Spatial Computable General Equilibrium (SCGE) models are convenient methods of the analysis of the change of inter-regional economic interaction or regional benefit by policy shocks. Recent SCGE models have two main streams in terms of the assumption of market structure; perfect competition...

This paper studies a decentralized, dynamic matching and bargaining market: buyers and sellers are matched into pairs. Traders exit the market at a constant rate, inducing search costs (frictions). All price offers are made by sellers. Despite the fact that sellers have all the bargaining power...

This paper examines the two-fund separation paradigm in the context of an infinite-horizon general equilibrium model with dynamically complete markets and heterogeneous consumers with time- and state-separable utility functions. With the exception of the dynamic structure, we maintain the...