The first attempt in the human history to consciously create money ended in a collapse in 1720, well-known as the money … mania. This unfortunate start raises doubt on money creation as a whole such that today there are still voices questioning … created money even though it is now indispensible for the world economy. But this misfortune also has the bright side in that …

The modern approach to the market as a place with autonomy depends on a certain view of money. According to that view …, money is a neutral technology that expresses individual choices made about real goods and services. But the controversies … over money that regularly arise in political communities reveal that money is far from a transparent medium. It is a legal …

implications of our model for monetary economics. When a central bank increases the money supply, it must inject the money … somewhere in the economy. We demonstrate that the agent closest to the location where money is injected is better off, and the …. Symmetrically, any decrease in the money supply redistributes purchasing power in the other direction. We also outline the testable …

While the long run relation between money and inflation is well established, empirical evidence on the adjustment to … substantially expands the traditional vector error correction approach, to analyze the short run impact of money on prices. We … contribute to the literature in three ways: First, we distinguish changes in velocity of money that are due to institutional …

whether money growth Granger-causes output growth in the United States. We find surprisingly strong evidence for a money … Great moderation, the Granger-causal role of money appears to have vanished completely. …