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The main aim of this article is to investigate the sources of non- neutrality in policy games involving one or more trade unions. We use a simple set up in order to clearly expose the basic mechanisms that also work in more complex frameworks. We show that there are common roots in the...
Persistent link: https://www.econbiz.de/10005561230
We construct and analyze a tractable search model of money with a non-degenerate distribution of money holdings …. Analytical tractability comes from modeling decentralized exchange as directed search, which makes the monetary steady state … and provide conditions under which the steady-state distribution of buyers over money balances is non-degenerate. Moreover …
Persistent link: https://www.econbiz.de/10010850128
This paper studies the validity of the Friedman rule in a search model with divisible money and divisible goods in … the one emphasized in the labor-market literature. Buyers cannot obtain the full return that an additional unit of money … provides to the match, which makes the purchasing power of money inefficiently low in equilibrium. Consequently, even though …
Persistent link: https://www.econbiz.de/10005087013
monetary theory for tractability reasons. In this paper, we fill in this gap by constructing a tractable search model of money … with a non-degenerate distribution of money holdings. We assume search to be directed in the sense that buyers know the …Dispersion of money balances among individuals is the basis for a range of policies but it has been abstracted from in …
Persistent link: https://www.econbiz.de/10008914107
monetary theory for tractability reasons. In this paper, we fill in this gap by constructing a tractable search model of money … with a non-degenerate distribution of money holdings. We assume search to be directed in the sense that buyers know the …Dispersion of money balances among individuals is the basis for a range of policies but it has been abstracted from in …
Persistent link: https://www.econbiz.de/10009003261
monetary theory for tractability reasons. In this paper, we fill in this gap by constructing a tractable search model of money … with a non-degenerate distribution of money holdings. We assume search to be directed in the sense that buyers know the …Dispersion of money balances among individuals is the basis for a range of policies but it has been abstracted from in …
Persistent link: https://www.econbiz.de/10008876612
We construct and analyze a tractable search model of money with a non-degenerate distribution of money holdings …. Analytical tractability comes from modeling decentralized exchange as directed search, which makes the monetary steady state … and provide conditions under which the steady-state distribution of buyers over money balances is non-degenerate. Moreover …
Persistent link: https://www.econbiz.de/10011042978
In many situations, some people hold large money balances but have no particular urgency to spend them while others are …
Persistent link: https://www.econbiz.de/10012754564
centralized markets after one round of decentralized trade. Given quasi-linear preferences, this makes the distribution of money … these models by assuming two rounds of trade before agents can readjust their money holdings to study a range of new … distributional effects analytically. We show that unexpected, symmetric lump-sum money injections may increase short-run output and …
Persistent link: https://www.econbiz.de/10014067617
This paper studies the validity of the Friedman rule in a search model with divisible money and divisible goods where … one emphasized in the labour-market literature. Buyers cannot obtain the full return that an additional unit of money … provides to the match, which makes the purchasing power of money inefficiently low in equilibrium. Consequently, even though …
Persistent link: https://www.econbiz.de/10014077971