Showing papers sorted by date, newest first.
We incorporate a search-theoretic model of imperfect competition into a standard model of asymmetric information with unrestricted contracts. We characterize... Read More
Published: forthcoming at Journal of Political Economy
We study risk and maturity transformation when bank liabilities facilitate trade in goods markets and households face aggregate liquidity shocks.... Read More
We study a dynamic market for durable assets, in which asset owners are privately informed about the quality of their... Read More
How effectively does a decentralized marketplace aggregate information that is dispersed throughout the economy? We study this question in a... Read More
We characterize optimal contracts in settings where the principal observes informative signals over time about the agent's one-time action. If... Read More