Search and Matching

This paper develops a simple model of monopoly platform pricing accounting for two pertinent features of matching markets. 1) The trading process is characterized by search and matching frictions implying limits to positive cross-side network effects and the presence of own-side congestion. 2)Matched agents bargain over the division of the match surplus depending on the qualitative characteristics of both parties.

In this paper, we propose a search and matching model with nominal stickiness à la Calvo in the wage bargaining. We analyze the properties of the model, first, in the context of a typical real business cycle model driven by stochastic productivity shocks and second, in a fully specified monetary DSGE model with various real and nominal rigidities and multiple

The inquiry on the nature of truth in language comprehension has a long history of opposite perspectives. These perspectives either consider that there are qualitative differences in the processing of true and false statements, or that these processes are fundamentally the same and only differ in quantitative terms. The present study evaluated the processing nature of true and false statements in terms of patterns of brain activity using event-related functional-Magnetic-Resonance-Imaging (fMRI). We show that when true and false concept-feature statements are controlled for relation strength/ambiguity, their processing is associated to qualitatively different processes. Verifying true statements activates the left inferior parietal cortex and the caudate nucleus, a neural correlate compatible with an extended search and matching process for particular stored information. In contrast, verifying false statements activates the fronto-polar cortex and is compatible with a reasoning process of finding and evaluating a contradiction between the sentence information and stored knowledge.

I analyze optimal monetary policy in an economy with search and matching frictions in the labor market and staggered nominal wage and price contracts. In this framework, as opposed to the standard New Keynesian model, preset nominal wages need not have any effect on existing employment relationships. However, staggered bargaining of nominal wages distorts aggregate job creation and creates inefficient

Abstract-- A new algorithm to search for multiple patterns simultaneously is proposed. The multiple pattern algorithms can be used in many applications that require such type of search and matching. For example, a multi-pattern matching can be used in lieu of indexing or sorting data in some applications that involve small to medium size datasets. One of its advantages is that no additional search structure is needed and no preprocessing phase is required. The proposed algorithm is simple and can suit for multiple patterns matching in a file with unlimited size. The time complexity of the algorithm is O (n*m), but because of the skips it moves to around O (n). The number of comparisons rapidly decreased after the first match, and for multiple matching, it will be little greater than n (file size). The algorithm was implemented and compared with some popular multi-pattern matching algorithms and it has shown more enhancement in performance and faster than others.

I develop a search-and-bargaining model of endogenous intermediation in over-the-counter markets. Unlike the existing work, my model allows for rich investor heterogeneity in three simultaneous dimensions: preferences, inventories, and meeting rates. By comparing trading-volume patterns that arise in my model and are observed in practice, I argue that the heterogeneity in meeting rates is the main driver of intermediation patterns. I find that investors with higher meeting rates (i.e., fast investors) are less averse to holding inventories and more attracted to cash earnings, which makes the model corroborate a number of stylized facts that do not emerge from existing models: (i) fast investors provide intermediation by charging a speed premium, and (ii) fast investors hold more extreme inventories. Then, I use the model to study the effect of trading frictions on the supply and price of liquidity. On social welfare, I show that the interaction of meeting rate heterogeneity with optimal inventory management makes the equilibrium inefficient. I provide a financial transaction tax/subsidy scheme that corrects this inefficiency, in which fast investors cross-subsidize slow investors.

This paper evaluates the implications of search and matching frictions in the financial market for the transmission of monetary policy. Borrowers and lenders participate in a decentralized loan market for the purpose of establishing long-term credit relationships and the provision of loanable funds to productive firms. Locating credit relationships is costly in terms of time and real resources and the interest rate is negotiated via a bargaining mechanism. This structure is incorporated into an otherwise standard monetary business cycle framework and used to study how such frictions in the credit market contribute to explaining the contemporaneous impact and propagation of monetary growth shocks and inflation. It is found that while anticipated inflation negatively impacts real activity it can also increase loan market participation and the inflow of newly established credit relationships. It is shown that while bargaining and costly search mitigate the traditional inflation tax eff...

Block motion estimation represents a cpu-intensive task in video encoding and many fast algorithms have been developed to improve the searching and matching phases. A milestone within the lossless approach is partial distor- tion elimination (PDE/SpiralPDE) in which distortion is the difference between the block to be coded and the candidate prediction block. In this paper we show that contributions