employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation … ; matching models ; labor market search ; inflation persistence ; real wage rigidity …

expectations and uncertainty, albeit to a much lesser extent than the domestic policy changes. …

therefore expectations driven fluctuations may be eliminated in the world. In any case, stochastic and deterministic …

central bank money. The key differences between cash and central bank digital currency (CBDC) include transaction efficiency …

high during 2016-2019, keeping inflation below the Reserve Bank's target band. Optimal monetary policy in 2016-2019 would …

Money illusion means that people behave differently when the same objective situation is represented in nominal terms … differences in nominal price inertia indicating the behavioral importance of money illusion. In particular, if the payoff … information is presented to subjects in nominal terms, price expectations and actual price choices after a fully anticipated …

. Incorporating remittances in the money demand equation results in a more robust model than otherwise. We further find that the … effect of the Federal Funds rate on money demand in these countries diminishes in significance during the period of oil boom … between 2002 and 2009. However, the transmission effect of the recession periods in the U.S. into the demand for money in the …