Random Matching Models and Money

The Global Structure and Approximation of Stationary Equilibria

K. Kamiya, A.J.J. Talman

Research output: Working paperDiscussion paperOther research output

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Abstract

Random matching models with different states are an important class of dynamic games; for example, money search models, job search models, and some games in biology are special cases.In this paper, we investigate the basic structure of the models: the existence of equilibria, the global structure of the set of equilibria, and the approximation and computation of equilibria.Under conditions which are typically satisfied in monetary models, the equilibrium condition can be considered as a nonlinear complementarity problem with some new feature.
Original languageEnglish
Place of PublicationTilburg
PublisherMicroeconomics
Number of pages31
Volume2003-70
Publication statusPublished - 2003

Publication series

NameCentER Discussion Paper
Volume2003-70

Fingerprint

Matching model
Random matching
Approximation
Stationary equilibria
Existence of equilibrium
Nonlinear complementarity problem
Job search
Computation of equilibria
Dynamic games

Keywords

  • matching
  • money
  • equilibrium analysis

Cite this

Kamiya, K., & Talman, A. J. J. (2003). Random Matching Models and Money: The Global Structure and Approximation of Stationary Equilibria. (CentER Discussion Paper; Vol. 2003-70). Tilburg: Microeconomics.
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Kamiya, K & Talman, AJJ 2003 'Random Matching Models and Money: The Global Structure and Approximation of Stationary Equilibria' CentER Discussion Paper, vol. 2003-70, Microeconomics, Tilburg.

Random Matching Models and Money : The Global Structure and Approximation of Stationary Equilibria. / Kamiya, K.; Talman, A.J.J.

Tilburg : Microeconomics, 2003. (CentER Discussion Paper; Vol. 2003-70).

Research output: Working paperDiscussion paperOther research output

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AB - Random matching models with different states are an important class of dynamic games; for example, money search models, job search models, and some games in biology are special cases.In this paper, we investigate the basic structure of the models: the existence of equilibria, the global structure of the set of equilibria, and the approximation and computation of equilibria.Under conditions which are typically satisfied in monetary models, the equilibrium condition can be considered as a nonlinear complementarity problem with some new feature.

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KW - equilibrium analysis

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PB - Microeconomics

CY - Tilburg

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