Heterogeneity and Lotteries in Monetary Search Models |
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| Authors: | SÉBASTIEN LOTZ REI SHEVCHENKO† CHRISTOPHER WALLER‡ |
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| Institution: | ERMES University of Paris II Panthéon-Assas (E-mail: );. Department of Economics at Michigan State University (E-mail: );. Department of Economics and Econometrics at the University of Notre Dame (E-mail: ). |
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| Abstract: | 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. |
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| Keywords: | E40 |
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