Arestis, Philip; Chortareas, Georgios; Tsoukalas, John D. - In: Economic Journal 120 (2010) 542, pp. 101-101
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 facilitates the estimation of the unobserved shocks that drive potential output and thus the state of the economy. For this...