haku: @indexterm Monetary economics / yhteensä: 201
viite: 29 / 201
| Tekijä: | Coles, M. G. Wright, R. |
| Otsikko: | A Dynamic equilibrium model of search, bargaining, and money |
| Lehti: | Journal of Economic Theory
1998 : JAN, VOL. 78:1, p. 32-54 |
| Asiasana: | DYNAMIC MODELS EQUILIBRIUM THEORY MONETARY ECONOMICS |
| Kieli: | eng |
| Tiivistelmä: | The paper considers dynamic equilibria in a model with random matching, strategic bargaining, and money. Equilibrium in the bargaining game is characterized in terms of a simple differential equation. Once this characterization is embedded into the monetary economy, the model can generate outcomes such as limit cycles that never arise if one imposes a myopic Nash bargaining solution, as has been done in the past. |
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