A dynamic equilibrium model of search, bargaining, and money

被引：46

作者：

Coles, MG ^{[1
]}

Wright, R

机构：

[1] Univ Essex, Colchester CO4 3SQ, Essex, England

[2] CSIC, Inst Anal Econ, Barcelona, Spain

[3] Univ Penn, Dept Econ, Philadelphia, PA 19104 USA

来源：

JOURNAL OF ECONOMIC THEORY | 1998年 / 78卷 / 01期

基金：

美国国家科学基金会;

关键词：

D O I：

10.1006/jeth.1997.2353

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper considers dynamic equilibria in a model with random matching. strategic bargaining, and money. Equilibrium in the bargaining game is characterized in terms of a simple differential equation. When we embed this characterization into the monetary economy, the model can generate outcomes such as limit cycles that never arise if one imposes a myopic Nash bargaining solution, as has been done in the past. (C) 1998 Academic Press.

引用

页码：32 / 54

页数：23

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