We study models incorporating money, household production, and investment in housing. Inflation, as a tax on market …

The classical and early neoclassical economists knew that the essential function of money was its role as a medium of … economics: the interaction between specialization and exchange, dual fiat currency regimes, the welfare improving role of money …

magnitude of the unperceived money growth. The testing of this hypothesis requires two preliminary steps. First, a price … unperceived money growth. This estimation implies the postulation of an available information set and also a function relating the … variables in this set to money creation. The function used was based on considerations related to government demand for revenue …

We formulate a generalization of the traditional medium-of-exchange function of money in contexts where there is … that the option to settle transactions directly with money strengthens the stance of sellers of goods and services vis … "latent money demand" considerations imply monetary policy remains effective through medium-of-exchange channels even if the …

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

work that treats the costs and benefits of holding money as irrelevant for monetary transmission. I reexamine this result … widespread practice of basing monetary policy advice on models without money …

economic activities and hence with regional money. Monetary policy was one body conducted at regional level, but overseen … money circulated, with gold, silver, copper, and paper all present at various times. Monetary policy was guided by monetary …

interest-rate rule, and the money market and financial institutions are typically not even modeled. Critics contend that these …