Working Paper
Search-Based Models of Money and Finance: An Integrated Approach
Wright, Randall; Trejos, Alberto (2014-03-19)
Many applications of search theory in monetary economics use the Shi-Trejos-Wright model, hereafter STW, while applications in finance use Duffie-Grleanu-Pederson, hereafter DGP. These approaches have much in common, and both claim to be about liquidity, but the models also differ in a fundamental way: in STW agents use assets as payment instruments when trading goods; in DGP there are no gains from exchanging goods, but agents trade because they value assets differently with goods serving as payment instruments. We develop a framework nesting the two. This clarifies the connection between ...
Working Papers , Paper 709

Conference Paper
Search-theoretic models of international currency
Wright, Randall; Trejos, Alberto (1996-05)
Proceedings , Volume 78 , Issue May , Pages 117-132

Journal Article
Search-theoretic models of international currency
Wright, Randall; Trejos, Alberto (1996-05)
Review , Volume 78 , Issue May , Pages 117-132

Conference Paper
Search, bargaining, money and prices: recent results and policy implications
Wright, Randall; Trejos, Alberto (1993)
Proceedings

Working Paper
Toward a theory of international currency: a step further
Wright, Randall; Trejos, Alberto (1995)
Working Papers , Paper 95-14