The efficiency of monetary exchange in search equilibrium.
Search theoretic models of money emphasize monetary exchange as the outcome of economic environments characterized by bilateral trading frictions. This paper analyzes the efficiency of monetary exchange in a search model of fiat money where individuals invest costly effort in the exchange process. B...
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| Language: | English |
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1997
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| Online Access: | http://ezproxy.villanova.edu/login?url=https://digital.library.villanova.edu/Item/vudl:178055 |