simultaneous search or any heterogeneity in preferences, production costs, or search technologies. A distribution of money holdings … price distribution, in turn, makes buyers indifferent across a range of money balances, rationalizing the non …-degenerate distribution of money holdings. We completely characterize the distribution of posted prices and money holdings in any equilibrium …

We propose a monetary model with endogenous credit market participation to study the impact of financial inclusion on …

We propose a monetary dynamic general equilibrium model with endogenous credit market participation to study the impact …

equilibrium with degenerate money distribution. I solve for the entire class of exact solutions to the above non-linear second …

reunification. A policy that separates learning from control may induce a persistent upward bias in money growth and inflation, just …

We develop a dynamic, search-theoretic model of bank deposit and loan markets where relationships are bilateral, the …

.g., markups, concentration) are affected by search frictions, monetary policy, and self-fulfilling beliefs. As meeting speed …

fiat money coexists with a real asset, and no restrictions are imposed on payment arrangements. The liquidity of the real …