In this paper, we test two models of the Eurozone, with a special emphasis on the role of money and monetary policy … during crises. The role of separability between money and consumption is investigated further and we analyse the Euro area … economy during three different crises: 1992, 2001 and 2007. We …find that money has a rather signi…ficant role to play in …

This paper studies a simple stochastic two-period general equilibrium exchange model with money, an incomplete market … implicit in the model, public debt and creation of money both implemented at the first period. The equilibrium existence is … established under a Gains to trade hypothesis and the assumption that banks have a non zero endowment of money at each date …

-in-advance constraints. The total amount of money is supplied by an authority, which produces at no cost and lends money to agents at short …

Book review of a selection of Jean-Baptiste Say's principal writings on money and banking …

money and financial relations, the crucial role of institutional patterns, and the macro nature of stability and viability …

function based money is created as a world-wide currency; ⊔ (pronounced /k^p/). We argue that our system discourage speculation …

Theory of Money holds provided the economy is not trapped in a liquidity hole. The traditional theory of comparative …

and real money balances in the Eurozone. Our analysis suggests that risk aversion was a more important component of output … and real money balance dynamics between 2006 and 2011 than it had been between 1971 and 2006, at least in the short run. …

exchange and a means to pay taxes. These provide an analytical framework for the understanding of money as originating both …

In this paper, we set up and test a model of the Euro zone, with a special emphasis on the role of money. The model … follows the New Keynesian DSGE framework, money being introduced in the utility function with a non-separability assumption … interest rate, real money balances, flexible-price output and flexible-price real money balances variances. The role of money …