Many different models of money stock determination exist in the literature. An attempt is made here to understand why … that the price level adjust in order to cause the real quantity of money to equal the real quantity demanded. In contrast …, in the real bills or banking school tradition, the nominal quantity of money adjusts in order to provide the real …

In any discussion of the demand for money it is important to be clear about the concept of money that is being utilized … payment for any commodity. Money thus conceived will also serve as a store of value, but may be of minor importance to the …

We describe a stochastic economic environment in which the mix of money and trade credit used as means of payment is … find that the equilibrium prices of arbitrary contingent claims to future currency differ from those from one-good cash … monetary policy and for time series analysis using money and trade credit. …

particular institutions for commodity money. Information-intensive lending and payments services have been provided jointly by …

The main objective of this note is to examine whether the interest elasticity of money demand has increased during the … last few years. A simple money demand regression that includes additional intercept and slope dummy variables defined over … the elasticity of money demand with respect to market interest rates has for now increased. No shifts are detected in …

wage bill. The second example is based on the Kiyotaki-Wright model of money. I explain how equilibrium prices depend in a …