Search, money, and capital: a neoclassical dichotomy

Recent work has reduced the gap between search-based monetary theory and mainstream macroeconomics by incorporating into the search model some centralized markets as well as some decentralized markets where money is essential. This paper takes a further step toward this integration by introducing labor, capital, and neoclassical firms. The resulting framework nests a search-theoretic monetary model and a standard neoclassical growth model as special cases.

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Year of publication:	2003
Authors:	Aruoba, S. Boragan ; Wright, Randall
Published in:	Proceedings. - Federal Reserve Bank of Cleveland. - 2003, p. 1085-1117
Publisher:	Federal Reserve Bank of Cleveland
Subject:	Monetary theory \| Money \| Search theory

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Type of publication:	Article
Notes:	Published in Journal of money, credit, and banking, volume 35, no. 6, pt. 2, December 2003
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005420304