search economy in which there are no costs or temporal restrictions on sellers' ability to change prices. The economy … endogenous changes in the average mark-up driven by movements in consumers' search intensity. The average mark-up falls as …

simultaneous search or any heterogeneity in preferences, production costs, or search technologies. A distribution of money holdings …

This paper studies the effect of inflation on welfare in a monetary economy with price dispersion and consumer search …. When facing greater price dispersion with higher inflation, consumers search harder for lower prices, and increased search …. Both mechanisms are affected by the consumer's monetary balance. I develop a general equilibrium model with search …

search economy in which there are no costs or temporal restrictions on sellers' ability to change prices. The economy … endogenous changes in the average mark-up driven by movements in consumers' search intensity. The average mark-up falls as …

We introduce heterogeneous preferences into a tractable model of monetary search to generate price dispersion, and then … examine the effects of money growth on price dispersion and welfare. With buyers’ search intensity fixed, we find that money … goods. When buyers’ search intensity is endogenous, multiple equilibria are possible. In the equilibrium with the highest …