Trejos-Wright with a 2-unit bound: Existence and stability of monetary steady states
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Huang, Pidong | - |
dc.contributor.author | Igarashi, Yoske | - |
dc.date.accessioned | 2021-09-04T20:40:48Z | - |
dc.date.available | 2021-09-04T20:40:48Z | - |
dc.date.created | 2021-06-15 | - |
dc.date.issued | 2015-01 | - |
dc.identifier.issn | 0165-4896 | - |
dc.identifier.uri | https://scholar.korea.ac.kr/handle/2021.sw.korea/94857 | - |
dc.description.abstract | This paper investigates a Trejos-Wright random matching model of money with a consumer take-it-or-leave-it offer and with individual money holdings in the set {0, 1, 2}. It is shown that three kinds of monetary steady states exist generically: (1) pure-strategy full-support steady states, (2) mixed-strategy full-support steady states, and (3) non-full-support steady states. A full-support steady state exists if and only if a non-full-support steady state exists. Stability of these steady states is also studied. Both pure-strategy and mixed-strategy full-support steady states are locally stable. However, non-full-support steady states are unstable. (C) 2014 Elsevier B.V. All rights reserved. | - |
dc.language | English | - |
dc.language.iso | en | - |
dc.publisher | ELSEVIER SCIENCE BV | - |
dc.subject | MATCHING MODEL | - |
dc.subject | MONEY | - |
dc.subject | SEARCH | - |
dc.subject | PRICES | - |
dc.subject | EQUILIBRIUM | - |
dc.title | Trejos-Wright with a 2-unit bound: Existence and stability of monetary steady states | - |
dc.type | Article | - |
dc.contributor.affiliatedAuthor | Huang, Pidong | - |
dc.identifier.doi | 10.1016/j.mathsocsci.2014.11.004 | - |
dc.identifier.scopusid | 2-s2.0-84919799205 | - |
dc.identifier.wosid | 000348260500008 | - |
dc.identifier.bibliographicCitation | MATHEMATICAL SOCIAL SCIENCES, v.73, pp.55 - 62 | - |
dc.relation.isPartOf | MATHEMATICAL SOCIAL SCIENCES | - |
dc.citation.title | MATHEMATICAL SOCIAL SCIENCES | - |
dc.citation.volume | 73 | - |
dc.citation.startPage | 55 | - |
dc.citation.endPage | 62 | - |
dc.type.rims | ART | - |
dc.type.docType | Article | - |
dc.description.journalClass | 1 | - |
dc.description.journalRegisteredClass | scie | - |
dc.description.journalRegisteredClass | ssci | - |
dc.description.journalRegisteredClass | scopus | - |
dc.relation.journalResearchArea | Business & Economics | - |
dc.relation.journalResearchArea | Mathematics | - |
dc.relation.journalResearchArea | Mathematical Methods In Social Sciences | - |
dc.relation.journalWebOfScienceCategory | Economics | - |
dc.relation.journalWebOfScienceCategory | Mathematics, Interdisciplinary Applications | - |
dc.relation.journalWebOfScienceCategory | Social Sciences, Mathematical Methods | - |
dc.subject.keywordPlus | MATCHING MODEL | - |
dc.subject.keywordPlus | MONEY | - |
dc.subject.keywordPlus | SEARCH | - |
dc.subject.keywordPlus | PRICES | - |
dc.subject.keywordPlus | EQUILIBRIUM | - |
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