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Recent studies in monetary theory show that if buyers can use lotteries to signal the quality of bank notes, counterfeiting does not occur in a pooling equilibrium. In this paper, I investigate the robustness of this non-existence result by considering an alternative trading mechanism....
Persistent link: https://www.econbiz.de/10009762123
We document a new set of facts regarding the impact of referrals on labor market outcomes. Our results highlight the importance of distinguishing between different types of referrals-those from family and friends and those from business contacts-and different occupations. Then we develop an...
Persistent link: https://www.econbiz.de/10012660361
Using a relatively mild restriction on the beliefs of the MMEU-apreference functional, in which the decision maker’s degree of ambiguity and degree of pessimism are each parameterized, we present a rather general theory of religious choice in the decision theory tradition, one that can resolve...
Persistent link: https://www.econbiz.de/10005426911
matching process with a unit of money of their choice. A certain number of sellers also come into the same process to maintain …
Persistent link: https://www.econbiz.de/10013034054
In response to the disruption of credit markets and the zero lower bound during the recent financial crisis, the Federal Reserve introduced a variety of new policy tools. Perhaps, the most visible of these tools is large scale asset purchases (LSAP) programs, often referred to as "quantitative...
Persistent link: https://www.econbiz.de/10013055860
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I study a dynamic search-matching model with two-sided heterogeneity, a production complementarity that induces labor …
Persistent link: https://www.econbiz.de/10014366741
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