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9 7 0 9
A Note on Purifying
Mixed Strategy Equilibria
in the Search Model of Money
by Randall Wright
FEDERAL RESERVE BANK
OF CLEVELAND
Working Paper 9709
A NOTE ON PURIFYING MIXED STRATEGY EQUILIBRIA IN THE SEARCH
MODEL OF MONEY
by Randall Wright
Randall Wright is a professor of economics at the
University of Pennsylvania and a visiting scholar at the
Federal Reserve Bank of Cleveland. The author thanks Ken
Burdett and Peter Rupert for helpful comments and
conversations, and the National Science Foundation for
financial support.
Working papers of the Federal Reserve Bank of Cleveland
are preliminary materials circulated to stimulate discussion
and critical comment. The views stated herein are those of
the authors and are not necessarily those of the Federal
Reserve Bank of Cleveland or of the Board of Governors of
the Federal Reserve System.
Federal Reserve Bank of Cleveland working papers are
distributed for the purpose of promoting discussion of
research in progress. These papers may not have been
subject to the formal editorial review accorded official
Federal Reserve Bank of Cleveland publications.
Working papers are now available electronically through
the Cleveland Fed’s home page on the World Wide Web:
http://www.clev.frb.org.
September 1997
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