Money and its underlying function as a medium of exchange play a central role in determining the course of … macroeconomic activity. However, many of the models used to evaluate fundamental questions relating money and monetary policy to … economic activity simply assume currency is valued and overlook the important properties of money that influence the way it is …

This paper assesses the relationship between money and credit and episodes of sharp depreciation in East Asia by: (i …) examining the growth rates of money and credit variables around depreciation episodes; (ii) estimating the impact of money and … contained in money and credit variables prior to episodes of sharp currency depreciation. ; Reserve money grew rapidly prior to …

An examination of recent empirical research on money demand, which states that the interest elasticity of money demand …

An examination of the commonly accepted positive correlation between money and real output, including a review of … several models of business cycles and an explanation of how money can be neutral and yet still appear to affect real output. …