D82 - Asymmetric and Private Information; Mechanism Design

• Money and Price Posting under Private Information

  Staff Working Paper 2011-22 Mei Dong, Janet Hua Jiang

  We study price posting with undirected search in a search-theoretic monetary model with divisible money and divisible goods. Ex ante homogeneous buyers experience match specific preference shocks in bilateral trades. The shocks follow a continuous distribution and the realization of the shocks is private information.

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Inflation and prices JEL Code(s): D, D8, D82, D83, E, E3, E31

• Counterfeit Quality and Verification in a Monetary Exchange

  Staff Working Paper 2011-4 Ben Fung, Enchuan Shao

  Recent studies on counterfeiting in a monetary search framework show that counterfeiting does not occur in a monetary equilibrium. These findings are inconsistent with the observation that counterfeiting of bank notes has been a serious problem in some countries.

  Content Type(s): Staff research, Staff working papers Topic(s): Bank notes JEL Code(s): D, D8, D82, D83, E, E4, E42, E5, E50