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On the existence of single‐price equilibria in a matching model with divisible money and production cost
Author(s) -
Kamiya Kazuya,
Morishita Noritsugu,
Shimizu Takashi
Publication year - 2005
Publication title -
international journal of economic theory
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.351
H-Index - 11
eISSN - 1742-7363
pISSN - 1742-7355
DOI - 10.1111/j.1742-7363.2005.00014.x
Subject(s) - economics , production (economics) , matching (statistics) , microeconomics , mathematical economics , monetary economics , mathematics , statistics
The present paper investigates Zhou's (1999) money search model, where money is divisible, agents can hold any amount of money and production of goods is costly, and presents a sufficient condition, expressed in terms of exogenously given parameters, for the existence of single‐price equilibria.