This paper investigates the possibility that wealth (holdings of money) serves as a signal of ability to produce high … quality products for agents who cannot directly observe the quality of the products. A producer’s wealth may advertise past … such signaling effects may arise in equilibrium and may lead to more unequal distributions of wealth and lower welfare than …

This article investigates the possibility that wealth (holdings of money) serves as a signal of the ability to produce … high-quality products for agents who cannot directly observe the quality of the products. A producer's wealth may advertise … that such signaling effects may arise in equilibrium and may lead to more unequal distributions of wealth and lower welfare …

This paper investigates the possibility that wealth (holdings of money) serves as a signal of ability to produce high … quality products for agents who cannot directly observe the quality of the products. A producer's wealth may advertise past … such signaling effects may arise in equilibrium and may lead to more unequal distributions of wealth and lower welfare than …

-contingent assets under a borrowing limit. Search outcomes affect earnings and wealth accumulation. In turn, wealth and earnings affect … sizable inequality in wages and wealth among homogeneous workers. Wealth significantly reduces a worker's transition rates … from unemployment to employment and from one job to another. The interaction between search and wealth provides important …

-finding rates, wages and savings, so that we use the model to examine the role of age and wealth for worker flows and for the …

-finding rates, wages and savings, so that we use the model to examine the role of age and wealth for worker flows and for the …