highlights how learning and inventory management enable search intermediaries to internalize information externalities generated … in unintermediated private search. …

implies age-differentiated labor market flows. Whereas the search effort of unemployed workers presents an age … of the undirected search implies an intergenerational externality, which is not eliminated by the Hosios condition. We …

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 … terms of trade before visiting particular sellers. Directed search makes the monetary steady state block recursive in the …

order of an SVAR. We present simulation results to show how the efficacy of the search method algorithm varies with signal …

This paper develops a dynamic model of an economy with search frictions in which homogeneous agents choose between … search market and provide immediacy in trade in return for a price. Agents who know the location of a merchant have the … option of paying the merchant’s price and avoiding search. We characterize equilibria in symmetric Markov strategies, and …

This paper shows that the Mortensen-Pissarides search and matching model can be successfully parameterized to generate …