Professor of economics at New York University working on macroeconomics, with emphasis on monetary and labor economics. Ph.D. from the University of Pennsylvania (1997).
This 2005 *Journal of Political Economy* paper by Ricardo Lagos and Randall Wright builds a monetary search model in which each period alternates between a decentralized market with anonymous …
Online FirstThe Economic JournalOnline 26 Jun 2026
The cashless-limiting result in Woodford (1998) — that as money velocity diverges the allocation of a monetary economy converges to that of the corresponding economy without money — is the theoretical …