Search, Bargaining, and Money: Theories and Policy Implications

搜索、讨价还价和金钱：理论和政策含义

• 批准号: 9631316
• 负责人: Randall Wright
• 金额: --
• 依托单位: University of Pennsylvania
• 依托单位国家: 美国
• 项目类别: Continuing grant
• 财政年份: 1996
• 资助国家: 美国
• 起止时间: 1996-11-01 至 2000-10-31
• 项目状态: 已结题
• 来源: https://www.nsf.gov/awardsearch/showAward?AWD_ID=9631316&HistoricalAwards=false
• 关键词: Search; Bargaining; Money; Theories; Policy

Wright 9631316 Search theory provides a new way to think about many issues in monetary economics. This project contributes to the foundations of monetary economics by extending in several directions some recent development in the literature that use search theory to formalize the role of money and related assets in the economy. The major recent development in this literature has been the use of bargaining theory to determine prices endogenously in the models, while previous versions more or less assumed that prices were fixed exogenously in order t focus on the process of trade (who exchanges with whom, using which objects as media of exchange, and so on). In terms of methods, the current proposal has three parts. First, it is argued that by using a simple special case of bargaining theory, one may derive such stronger results and one may therefore use the model to address more complicated questions than would have been possible in general. Second, it is suggested that there is potentially interesting new way to analyze government policy in these models. Finally, there are several technical or mathematical issues that need to be addressed. This research should eventually contribute to the analysis of currency reform, e.g., what are the costs and benefits of European currency integration.

赖特9631316 搜寻理论为货币经济学中的许多问题提供了一种新的思考方式。 这个项目有助于货币经济学的基础，通过在几个方向上扩展文献中的一些最新发展，这些文献使用搜索理论来形式化货币和相关资产在经济中的作用。 这些文献的主要最新发展是使用讨价还价理论在模型中内生地确定价格，而以前的版本或多或少地假设价格是外生性固定的，以便关注贸易过程（谁与谁交换，使用哪些物品作为交换媒介，等等）。 就方法而言，目前的建议有三个部分。 首先，有人认为，通过使用一个简单的特殊情况下的讨价还价的理论，人们可能会得出这样更强的结果，因此可以使用该模型来解决更复杂的问题比一般情况下可能。 第二，它表明，有潜在的有趣的新方法来分析政府政策在这些模型。 最后，还有几个技术或数学问题需要解决。 这项研究最终将有助于分析货币改革，例如，欧洲货币一体化的成本和收益是什么？