Trading networks with frictions
We show how frictions and continuous transfers jointly affect equilibria in a model of matching in trading networks. Our model incorporates distortionary frictions such as transaction taxes and commissions. When contracts are fully substitutable for firms, competitive equilibria exist and coincide w...
| Κύριοι συγγραφείς: | , , , |
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| Μορφή: | Journal article |
| Έκδοση: |
Economic Society
2019
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