Kudoh, Noritaka - In: Economics Bulletin 30 (2010) 1, pp. 709-719
This paper studies a strategic bargaining model of money and prices to complement the results reported in Coles and … Wright (1998). The probability of a bargaining breakdown is chosen to be consistent with market conditions in the spirit of … Rubinstein and Wolinsky (1985). The unique monetary steady state coincides with the one under asymmetric Nash bargaining. The …