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Heterogeneity and Lotteries in Monetary Search Models
Author(s) -
LOTZ SÉBASTIEN,
SHEVCHENKO ANDREI,
WALLER CHRISTOPHER
Publication year - 2007
Publication title -
journal of money, credit and banking
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.763
H-Index - 108
eISSN - 1538-4616
pISSN - 0022-2879
DOI - 10.1111/j.0022-2879.2007.00042.x
Subject(s) - ex ante , wright , economics , econometrics , computer science , keynesian economics , programming language
We introduce ex ante heterogeneity into the Berentsen, Molico, and Wright monetary search model with lotteries. We show that their three main results regarding lotteries do not survive this modification of the environment.