Based on ethnographic research conducted over several years, Market Frictions examines the tensions and frictions that emerge from the interaction of global mar

An integrated framework to study the theoretical and quantitative properties of economies with frictions in labor, financial, and goods markets. This book offer

This report quantifies labor mobility costs in developing countries and simulates the implied adjustment paths of employment and wages following a change in tra

We develop a theory of money and credit as competing payment instruments, then put it to work in applications. Buyers can use cash or credit, with the former (l