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In this note we extend the search-based monetary DSGE model studied in Aruoba and Schorfheide (2010) and introduce liquid capital claims. More specifically, buyers in the decentralized market can use ...
Recent work has reduced the gap between search-based monetary theory and mainstream macroeconomics byincorporating into the search model some centralized markets as well as some decentralized markets ...
Monetary models that specify explicit frictions to generate money demand have beendeveloped over the last 20 years and have been used to address many questions. Inthis paper we investigate the short-r...
We study users' response to sponsored-search advertising using data from Microsoft's Live AdCenter distributed in the \Beyond Search" initiative. We estimate a structural model of utility maximizing...
This paper studies household beliefs during the recent US housing boom. The first part presents evidence from the Michigan Survey of Consumers. To characterize the heterogeneity in households’...
A mechanism can be simplified by restricting its message space. If the restricted message spaces satisfy a certain “outcome closure property,” then the simplification is “tight”: for every ε  0, any ...
This presentation draws on ideas from Professor Porter's articles and books, in particular, The Competitive Advantage of Nations (The Free Press, 1990), "The Microeconomic Foundations of Economic Deve...
We compare the performance of a comprehensive set of alternative peer identification schemes used in economic benchmarking. Our results show the peer firms identified from aggregation of informed agen...
As firms increasingly rely on online media to acquire consumers, marketing managers feel comfortable justifying higher online marketing spend by referring to online metrics such as click-through rate ...
Applying a "co-search" algorithm to Internet traffic at the SEC's EDGAR web-site, we develop a novel method for identifying economically-related peer firms and for measuring their relative importance....
In an online experiment, we measure users' interactions with search engines, both in standard configurations and in modified versions with clearer labels identifying search engine advertisements. In p...
This companion paper contains several extensions of the model presented in our main paper - Hagiu and Jullien (2009).
This paper presents econometric evidence of two independent effects of adding more competitors on innovation: 1) a competition effect whereby increasing rivalry shapes, and often decreases, incentives...
We analyze the incentives to divert search for an information intermediary who enables buyers (consumers) to search affiliated sellers (stores). We identify two original motives for diverting search (...
Diversity is a characteristic of Europe in all fields, and one of its strengths. The EAA mirrors this diversity, and embraces the common goal of advancing the knowledge in the field of accounting, whi...

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