the origin of the aggregate volatility reduction. We show that states with relatively high concentrations in the durable-goods …

-theoretic environment with divisible money and goods. We find that in such a setting, a positive feedback between work and shopping effort …This paper investigates the relationship between money growth, inflation, and productive activity in a general … equilibrium model where search frictions motivate the transactions role of money. The use of a multiple matching technique, where …

labor market policy, fiscal policy, and bank regulation. The free-rider problem leads the union’s members to pursue lax … imposing constraints on the nonmonetary policies, like unionwide rules on labor market policy, debt constraints on members …

stabilization policy in a DSGE model with microfounded money demand and endogenous firm entry. Due to a congestion externality …