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We endogenize the trade mechanism in a search economy with many homogenous sellers and many heterogeneous buyers of …
Persistent link: https://www.econbiz.de/10005085604
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We survey the recent literature in economics measuring what is on top of people's minds using open-ended questions. We first provide an overview of studies in political economy, macroeconomics, finance, labor economics, and behavioral economics that have employed such measurement. We next...
Persistent link: https://www.econbiz.de/10014544700
do so by considering randomized monetary trades in a standard search-theoretic model of money where agents can hold …
Persistent link: https://www.econbiz.de/10005370807
I highlight the importance of the distributional aspects of money’s divisibility by comparing a search-theoretic model …
Persistent link: https://www.econbiz.de/10005371144
I study a search theoretic model with pairwise meetings where dealers arise endogenously. The extent of intermediation …
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We propose a model of schooling that can account for the observed heterogeneity in workers' productivity and educational attainment. Identical unskilled agents can get a degree at a cost, but becoming skilled entails an additional unobservable effort cost. Individual labor can then be used as an...
Persistent link: https://www.econbiz.de/10005085544
, based on a recursive approach that exploits the monotonicity of matching functions. …
Persistent link: https://www.econbiz.de/10010608098