In most countries, the supply of paper money is controlled by a state institution. This paper provides an explanation …

The role of money in society has been a controversial topic in economic theory over many years. Particular attention … has been devoted to the analysis whether there should be competition in the supply of money, or whether this is best left … today we have competition between issuers of money, namely in the international context, with electronic money, and in large …

. Quantitative goals take three forms: exchange rates, money growth rates, and inflation targets. We analyze the effects on inflation …

money balances, building on Varian (1983). If additive separability is rejected, then real balances enter into the … sample period back to the 1980s, a period characterised by higher volatility in inflation and money growth. …

ability of money-based forecasts relative to a simple random walk benchmark model was high at medium-term forecasting horizons …

modified to account for observed money growth and inflation trends, and that monetary trends may serve as a useful cross … persistent errors in monetary policy and sustained trends in money growth and inflation. If interest rate prescriptions derived … from Keynesian-style models are augmented with a cross-check against money-based estimates of trend inflation, inflation …

criticized for failing to explain common trends in money growth and inflation, and that therefore money should be used as a cross …