money growth is essentially zero. We investigate whether standard monetary models driven by monetary shocks are consistent … general equilibrium models with sticky information. ; Earlier title: Inflation and money: a puzzle …

This paper revisits the issue of money growth versus the interest rate as the instrument of monetary policy. Using a … of inflation relative to money growth depends on whether the central bank follows a money growth rule or an interest rate … rule. With a money growth rule, inflation is not persistent and the price level is much more volatile than the money supply …

order of more than 50% of annual GDP), money injections through LSAP cannot effectively boost aggregate output and …

because of a change in its day-to-day behavior in money markets or the way it reacts to news about unemployment or real GDP …

Gavin and Kydland (1999) calculated the cyclical properties of money and prices for the periods before and after the … inflation, the lag from money growth to inflation, and lag from money growth to nominal GDP growth. Generally, the monetary …-correlations between money growth and inflation. …