. Money as a social representative of value, therefore, is introduced at the very beginning of Marx’s microeconomics. Marx …’s rejection of Ricardo’s interpretation of Say’s Law requires that money as a means of circulation and as a means of payment is … realisation of profits for the capitalist class as a whole requires money advances, which have to increase by means of rising …

This paper studies the gain from using money as an indicator when monetary policy in made under data uncertainty. We … state of the economy. Money reveals some of the private sector’s information to the policymaker, especially if there is a … forward looking element in money demand. We show that observing money can considerably reduce the loss that is due to …

pricing model the long-term interest rate turns out to have an economic meaning distinct from both price stability and full …

determines voting in the Senate, with the main dimension driven by economic interest, not ideology. Although two dimensions are … reported evidence, and a growing consensus in the congressional studies literature, this finding is attributed to interest …

Keynes (1936) said that shortage of money caused by hoarding or failure to invest led to unemployment, but Lucas (1972 …) said that money does not affect unemployment. The tables have now turned. Gani (2003) produced a model of indirect trade in … which money is necessary as a means of payment. Involuntary unemployment occurs under indirect exchange, just when the …

and when necessary to redefine, the “conventional” key concepts such as labor, capital, interest, rent, and accordingly …

friction for a receipt system (fiat money) to lead to improved allocations in an otherwise frictionless Walrasian model. The … experiments. Some issues regarding the divisibility of money are also discussed. …

money growth might be an important determinant of cyclical developments in real GDP beyond effects already captured by short …-term interest rates. In the empirical part we first present some preliminary evidence on the M1-GDP connection against the … properties are also maintained when looking at a broader set of non-monetary indicator variables. Narrow money therefore seems …

money has nothing to do with traded output, but everything to do with storing value. But now a new trade theory takes over … monetary theory, by reducing money into a mere tool of trade, as just a means of payment. It takes over theory of exchange … arbitrage, and payments through seigniorage (by creating and issuing money). Suddenly economics studies economy rather than …