responses of output, inflation, and money market mutual funds (MMMF) to a positive monetary shock. The idea of incorporating …

reference to the quantity of money.Following up the finding that inflation is determined in a coordination game, it is …. Central banks could thus be shown to be able to influence inflation rates, although the quantity of money plays no part in …

issuing base money is flawed. That story - in its various guises - is based on the quantity equation. This equation, however …

reference to the quantity of money.Following up the finding that inflation is determined in a coordination game, it is …. Central banks could thus be shown to be able to influence inflation rates, although the quantity of money plays no part in …

This paper provides an overview of the role of money in modern macro models. In particular, we are focussing on New … Keynesian and New Monetarist models to investigate their main findings and most significant shortcomings in considering money … recent New Keynesian literature, we argue that keeping an eye on money is important to monetary policy decision-makers in …

of money, it causes inflation, in the absence of monetary intervention. If the monetary authority attempts to restore pre …-credit card price levels by reducing the money supply, it might have to sacrifice the efficiency gains. When there is default on …

An alternative formula to the Quantity Theory uses monetary aggregates to measure changes in the value of money which …