the origin of the aggregate volatility reduction. We show that states with relatively high concentrations in the durable-goods …

-theoretic environment with divisible money and goods. We find that in such a setting, a positive feedback between work and shopping effort …This paper investigates the relationship between money growth, inflation, and productive activity in a general … equilibrium model where search frictions motivate the transactions role of money. The use of a multiple matching technique, where …

monetary policy that sought to maintain high interest rates and to restrict the growth of the money supply. Surprisingly, given …

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 …