Equilibrium Price Dispersion in a Matching Model with Divisible Money
University of Tokyo - Faculty of Economics
University of Tokyo - Graduate School of Economics
International Economic Review, Vol. 45, No. 2, pp. 413-430, May 2004
The main purpose of this article is to show that, for any given parameter value, an equilibrium with dispersed prices (two-price equilibrium) exists in Green and Zhou's matching model with divisible money. The welfare effect of price dispersion is also analyzed.
Number of Pages in PDF File: 18Accepted Paper Series
Date posted: May 26, 2004
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