Money in search equilibrium, in competitive equilibrium, and in competitive search equilibrium

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  • 1 January 2004
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      • Published in RePEc
Abstract
We compare three market structures for monetary economies: bargaining (search equilibrium); price taking (competitive equilibrium); and price posting (competitive search equilibrium). We also extend work on the microfoundations of money by allowing a general matching technology and entry. We study how equilibrium and the effects of policy depend on market structure.

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