Showing 1 - 10 of 909
We present a dynamic over-the-counter model of the fed funds market, and use it to study the determination of the fed funds rate, the volume of loans traded, and the intraday evolution of the distribution of reserve balances across banks. We also investigate the implications of changes in the...
Persistent link: https://www.econbiz.de/10010227278
We prove existence of steady-state equilibrium in a class of matching models with search frictions. …
Persistent link: https://www.econbiz.de/10010499806
strategically choose a certain signal. Introducing cheap talk to a model of sequential search with bargaining, we find that signals …When agents do not know where to find a match, they search. However, agents could direct their search to agents who …-crossing property and sorting condition coincide. As the information from signals allows agents to avoid all unnecessary search, this …
Persistent link: https://www.econbiz.de/10010128388
Different markets are cleared by different types of prices—seller-specific prices that are uniform across buyers in some markets, and personalized prices tailored to the buyer in others. We examine a setting in which buyers and sellers make investments before matching in a competitive market....
Persistent link: https://www.econbiz.de/10011686665
This paper builds a consumer search model where the cost of going back to stores already searched is explicitly taken … into account. We show that the optimal search rule under costly recall is very different from the optimal search rule under … perfect recall. Under costly recall, the optimal search behaviour is nonstationary and, moreover, the reservation price is not …
Persistent link: https://www.econbiz.de/10011373816
In a two-sided search market agents are paired to bargain over a unit surplus. The matching market serves as an … endogenous outside option for a bargaining agent. Behavioral agents are commitment types that demand a constant portion of the …, there is one-sided reputation building in bargaining, and commitment types on the short side determine the terms of trade …
Persistent link: https://www.econbiz.de/10008665719
consistent with these facts. In this theory, search and bargaining with incomplete information generates stickiness in the … place low value on the unit search elsewhere and leave. Landlords with one unit loathe vacancy and offer tenants the … identical contract to pre-empt search; only those who really hate the unit leave …
Persistent link: https://www.econbiz.de/10012955614
This paper analyzes fairness and bargaining in a dynamic bilateral matching market. Traders from both sides of the … market are pairwise matched to share the gains from trade. The bargaining outcome depends on the traders’ fairness attitudes … in isolated bilateral bargaining. …
Persistent link: https://www.econbiz.de/10012587476
This paper analyzes fairness and bargaining in a dynamic bilateral matching market. Traders from both sides of the … market are pairwise matched to share the gains from trade. The bargaining outcome depends on the traders’ fairness attitudes … in isolated bilateral bargaining. …
Persistent link: https://www.econbiz.de/10012648091
We analyze agents' decisions to act as producers or intermediaries using equilibrium search theory. Extending previous …
Persistent link: https://www.econbiz.de/10011987452