This paper provides a simple model of fragility in which recession, triggered by demand for high-powered money … attribute of high-powered money and not, perhaps, "liquidity services" per se at all. Thus, a rather "Tobinesque" liquidity trap …

This article uses multi-period ex ante anticipations of money supply growth to estimate the parameters of a model …, suggested by Stanley Fischer, in which money affects real variables only through multi-period errors in anticipations. This … model is tested against an alternative, first evaluated empirically by Robert Barro, in which money affects real variables …

This paper examines the impact of changing opportunity costs on the money demand relation proposed by Friedman and … of differing opportunity costs on money demand are examined through time. It is the introduction of interest bearing …

monies. The coin circulated in Africa, the Levant and Arabia as a full-bodied commodity money until governments one …

Two alternative functional forms of the demand for money that focus on how an economy as a whole adjusts its cash … balances have been discussed in the literature. One functional form is obtained by regarding the money supply as exogenous and … the price level as endogenous and the other by regarding the money supply as endogenous and the price level as exogenous …

By taking into account the procyclical nature of the money multiplier varies procyclically due to the public … fiscal policy multipliers will vary in size with the money multiplier. …

Several articles have recently questioned the "money view" of the monetary transmission mechanism and have offered an … alternative "credit view". We argue that the money view has been incompletely presented in much of the literature and in almost … all textbooks on Macroeconomics and Money and Banking. A distinction between the two views is unnecessary if one presents …