Lagos, Ricardo (contributor); … - 2004 - [Elektronische Ressource]
relates them to the decentralized
nature of trade. This makes the search-based approach a natural setup for our analysis. We … rate of inflation affect their search effort decisions, as well as the
number of trades, the quantity of output produced in … any trade, and welfare in the equilibrium.
We view these search efforts as a natural way of formalizing the “efforts …