On the existence of single-price equilibria in a matching model with divisible money and production cost |
| |
| Authors: | Kazuya Kamiya Noritsugu Morishita Takashi Shimizu |
| |
| Affiliation: | Faculty of Economics, University of Tokyo, Tokyo, Japan. Email:;Kaichi High School, Saitama, Japan.;Faculty of Economics, Kansai University, Osaka, Japan. |
| |
| Abstract: | 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. |
| |
| Keywords: | matching model divisible money production cost existence of stationary equilibria |
|
|
