recognition to the intertemporal nature of households' saving decisions. Like traditional IS-LM, however, the optimizing version … tends to understate the value of money as an indicator for monetary policy. …

This paper argues that the usual framing of discussions of money, monetary policy, and fiscal policy plays into the … more generally. To put it the way that economists usually do, money "lubricates" the market mechanism-a good thing, because … so have no chance. The paper advances an alternative framing for money and shows how it can be used to reshape discussion …

This paper begins by defining, and distinguishing between, money and finance, and addresses alternative ways of … such as liquidity and saving are explored. We conclude with a look at some of the new innovations in finance, and at the …

rate. Money’s role in monetary policy has been tertiary, at best. Indeed, several influential economists have suggested … that money is irrelevant for monetary policy. They suggest that central banks can control inflation by (i) controlling a … rate in order to exert greater control over longer-term rates. I offer an alternative perspective: namely, that money is …

-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 …

inside and outside money does and does not allow the economy to achieve a first-best allocation of resources. We also study …

inside and outside money does and does not allow the economy to achieve a first-best allocation of resources. We also study …