کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
956595 1478741 2016 22 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Search-based models of money and finance: An integrated approach
ترجمه فارسی عنوان
مدل های مبتنی بر جستجوی پول و امور مالی: یک رویکرد یکپارچه
کلمات کلیدی
جستجو. چانه زنی؛ پول؛ دارایی
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی

Many applications in monetary economics of search-and-bargaining theory use Shi–Trejos–Wright, hereafter STW; many applications in finance use Duffie–Gârleanu–Pedersen, hereafter DGP. These models share several features, and both concern liquidity, yet they also differ: in STW agents use assets as payment instruments when trading goods; in DGP they pay with goods (or transferable utility) when trading assets. We integrate the two. This clarifies connections between the literatures, and generates novel insights. Several new results are provided for the baseline STW and DGP models, while the integrated structure generates even more interesting outcomes, including endogenous transactions patterns and belief-based dynamics.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Theory - Volume 164, July 2016, Pages 10–31
نویسندگان
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