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We present a theory of targeted search, where people with a finite information processing capacity search for a match … resides in between the random matching and the directed search outcomes. The equilibrium that emerges from this middle ground … and the directed search literature as limiting cases. …
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We examine the effects of foreign currency-indexed debt upon inflationary expectations in Brazil and Mexico. Conjecturing that markets will view increasing overhangs of foreign currency-indexed debt as a commitment technology that fiscally punishes devaluation, we test whether increasing such...
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Do immigrants have a higher demand for large denominated banknotes than natives? This study examines whether cash orders for CHF 1000 notes, a banknote not used for daily transactions, is concentrated in Swiss cities with a high foreign-to-native ratio. Controlling for a range of socio-economic...
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