Output and price level effects of monetary uncertainty in a matching model

@article{Katzman2003OutputAP,
  title={Output and price level effects of monetary uncertainty in a matching model},
  author={Brett Katzman and John Kennan and Neil Wallace},
  journal={J. Economic Theory},
  year={2003},
  volume={108},
  pages={217-255}
}
Monetary uncertainty and information lags are put into a random matching model so that the resulting setting has some meetings in which producers are relatively informed and others in which consumers are relatively informed. For that setting, the ex ante socially optimal way to conduct trade is characterized. The optimum can display a variety of… CONTINUE READING