"fairness" and "convenience" then it admits unique prices, in the sense of consistent exchange-rates across commodity pairs ij … directed graphs G in a precise sense. The edges of G can be regarded as markets for commodity pairs, and prices play a stronger … role in that the return to a trader depends only on his own offer and the prices. Finally we consider "strongly" minimal …

mechanism has a distinguished commodity -- the money -- that serves as the sole medium of exchange and mediates trade between …

In the canonical monetary policy model, money is endogenous to the optimal path for interest rates and output. But when … liquidity provision by banks dominates the demand for transactions money from the real economy, money is likely to contain … information for future output and inflation because of its impact on financial spreads. And so we decompose broad money into …

Using annual data from several sources, we study the evolution of M1, M2, income, prices and long and short interest … rates in Ireland over the period 1933-2012. We find cointegration and that prices, income and interest rates are weakly …

gap between prices and wages, thus providing industrial entrepreneurs with windfall profits, which they reinvested in … generally kept pace with prices; and that early-modern England had experienced the greatest degree of such ‘profit inflation … of the Hamilton thesis was its enthusiastic endorsement by John Maynard Keynes, in his Treatise of Money, published the …

The objective of the paper is to re-examine the causal relationship between money and prices in Pakistan using recent … relationship between prices and M2 definition of money. The other definitions of money do not seem to be related with prices. The … analysis further suggests a unidirectional causality running from money to prices and thus supporting the monetarists’s claim …