The labor search and matching model plays a growing role in macroeconomic analysis. This paper provides a critical …

Meltzer (2001b) argues that the current trend for downgrading the role of money in standard macro models is erroneous … introducing an explicit role of money in these models. …

This paper analyses the interaction between internal agency problems within firms and external search frictions when … of the wage contracts is positively related to high productivity, low unemployment benefits and high search frictions. …

heterogeneous agents. The agents have private information about their productivity, preferences, or money holdings. Matching is … in money. In equilibrium, homogeneous buyers hold different amounts of money leading to price dispersion. We find the … closed-form solution for the distribution of money holdings. Entry of sellers is suboptimal except at the Friedman rule …

We develop a search-based model of asset trading, in which investors of different horizons can invest in two identical … assets. The asset markets are partially segmented: buyers can search for only one asset, but can decide which one. We show … that there exists a "clientele" equilibrium where one market has more buyers and sellers, lower search times, higher …