Template-Type: ReDIF-Paper 1.0
Title: Existence of a Non-Stationary Equilibrium in Search-And-Matching Models: TU and NTU
Author-Name: Christopher Sandmann
Author-Email: c.sandmann@Ise.ac.uk
Author-Name: Nicolas Bonneton
Author-Email: nicolas.bonneton@gmail.com
Classification-JEL: C73, C78, D81, E32
Keywords: equilibrium existence, search and matching, non-stationary, mean-field game

Abstract: This paper proves the existence of a non-stationary equilibrium in the canonical search- and-matching model with heterogeneous agents. Non-stationarity
entails that the number and characteristics of unmatched agents evolve endogenously over time. An equilibrium exists under minimal regularity conditions and
for both paradigms considered in the literature: transferable and non-transferable utility. To address potential discontinuities in match opportunities across
types, our analysis introduces a generalized Schauder fixed- point theorem suitable for models with discontinuous value functions.

Note: 
Length: 56
Creation-Date: 2023-05
Revision-Date: 2025-02
File-URL: https://www.crctr224.de/research/discussion-papers/archive/dp427
File-Format: application/pdf
Handle: RePEc:bon:boncrc:CRCTR224_2023_427v2