monetary rules was responsible for thirty years of low and stable inflation in the period from 1979 through 2009. I present a …

impact on monetary economics of Laidler's work on the demand for money and the quantity theory of money; the transmission … mechanism on the link between money and nominal income; the Phillips Curve; the monetary approach to the balance of payments …

monetarism: Milton Friedman and the team of Karl Brunner and Allan Meltzer. Friedman did not explicitly state the reasons he … generally chose not to use the IS-LM model in rejecting Keynesian views on the demand function for money, the role of autonomous … three assets: base money, government debt, and real capital. They set up a model with financial institutions and utilized it …

-pricing theory, is calibrated to analyze the effects of monetary policy and financial innovation. We show that inflation can raise … output, employment and investment, plus improve housing and stock markets. For the baseline calibration, optimal inflation is …

-o¤ between inflation and unemployment. Distributional effects also generate a quantitatively significant aggregate demand channel …We develop a New Monetarist model with expenditure and unemployment risks that generates equilibria with non …-degenerate distribution of money holdings. Distributional effects can overturn key insights of the model with degenerate distributions, e …