-wide model, in which the stock of money doesnot play any causal role. The stock of money operates a mere residual in the economic … process. The absence of the stock of money in many current debates over monetary policy has prompted the statement by the … Governor of the Bank of England (during his time as the Deputy Governor) that it is ironic that as central banks became more …

-wide model, in which the stock of money doesnot play any causal role. The stock of money operates a mere residual in the economic … process. The absence of the stock of money in many current debates over monetary policy has prompted the statement by the … Governor of the Bank of England (during his time as the Deputy Governor) that it is ironic that as central banks became more …

We consider an (otherwise standard) New Neoclassical Synthesis theoretical framework that allows a role for money …. Money in our model has an informational role which consists in facilitating the estimation of the unobserved shocks that … using Bayesian techniques. Our findings support the view that money has information value. This is reflected in higher …

view of the role of monetary policy. This view draws on many of the tenets of more traditional theories of money … - monetarism's emphasis on inflation control and skepticism about the use of easy-money policies to permanently increase output …, and the Keynesian view that the total stock of money is not an important driving force behind either inflation or …

single currency and has fundamentally redefined the scope and nature of economic policymaking in the member states, public … fiscal and monetary policy, the undemocratic structure and lack of accountability of the European Central Bank, and the …