Frictional Matching Models

Frictional Matching Models, Annual Reviews (2012)

This article offers a self-contained graduate lecture on the developments in frictional matching models 1990–2010, exploring how search frictions skew the matches that occur. This research succeeded by exploiting new tools from monotone methods under uncertainty. Seeing how this journey plays out is instructive in itself for economic theory. The article also fleshes out the different attack on the existence of equilibrium required for these search and matching models.