money and inflation. When analysing the full sample of countries we find a strong positive relation between the long …-run inflation and money growth rate. The relation is not, however, proportional. The strong link between inflation and money growth … inflation and money growth for low inflation countries (on average less than 10% per annum over the last 30 years) is weak. We …

Fundamental models of money always exhibit autarkic equilibria where money has no value. In this paper we propose a … behavior and the primitives of the economy, thus offering insights on the conditions under which money emerges as a medium of … exchange. Overall, our results favour money over autarky, especially if agents are patient. …

negative nominal interest rates and the helicopter drop of base money – two unconventional policies for stimulating consumer … and settlements technology (e-money etc.) will cause monetary policy to lose its capacity to influence even nominal …