Intensive and Extensive Properties: The chemical and physical properties of materials and systems can be classified into intensive and extensive based on the changes in the property with the size of ...

We introduce ex-post heterogeneity into monetary search models with lotteries. Heterogeneity allows lotteries over goods to exist in equilibrium. These lotteries over goods create an intensive margin ...

This paper documents some previously neglected features of sectoral shares at business cycle frequencies in OECD economies. We find that the non-traded output share is as volatile as aggregate GDP and ...