The European Central Bank has assigned a special role to money in its two pillar strategy and has received much … criticism for this decision. The case against including money in the central bank's interest rate rule is based on a standard … decades. In this paper, we develop a justification for including money in the interest rate rule by allowing for imperfect …

modified to account for observed money growth and inflation trends, and that monetary trends may serve as a useful cross …-check for monetary policy. We identify an important source of monetary trends in form of persistent central bank misperceptions … persistent errors in monetary policy and sustained trends in money growth and inflation. If interest rate prescriptions derived …

criticized for failing to explain common trends in money growth and inflation, and that therefore money should be used as a cross … the possibility of persistent central bank misperceptions. Such misperceptions motivate the search for policies that … significant cross-check with monetary information, when the New-Keynesian model is the central bank's preferred model. The cross …

modified to account for observed money growth and inflation trends, and that monetary trends may serve as a useful cross …-check for monetary policy. We identify an important source of monetary trends in form of persistent central bank misperceptions … persistent errors in monetary policy and sustained trends in money growth and inflation. If interest rate prescriptions derived …

criticized for failing to explain common trends in money growth and inflation, and that therefore money should be used as a cross … the possibility of persistent central bank misperceptions. Such misperceptions motivate the search for policies that … significant cross-check with monetary information, when the New-Keynesian model is the central bank’s preferred model. The cross …

modified to account for observed money growth and inflation trends, and that monetary trends may serve as a useful cross …-check for monetary policy. We identify an important source of monetary trends in form of persistent central bank misperceptions … persistent errors in monetary policy and sustained trends in money growth and inflation. If interest rate prescriptions derived …

We turn our attention to the role of money for determining nominal magnitudes. Using US data, we find that the … aggregate “nominal output plus and stock market capitalisation” is closely related to the money stock, lending support to one of … keep a very close eye on money supply if it wants to prevent consumer and/or asset price inflation. …

modified to account for observed money growth and inflation trends, and that monetary trends may serve as a useful cross …-check for monetary policy. We identify an important source of monetary trends in form of persistent central bank misperceptions … persistent errors in monetary policy and sustained trends in money growth and inflation. If interest rate prescriptions derived …

This work examines the impact of bank efficiency on the bank lending channel in China. Using a sample of 175 Chinese … bank’s efficiency. While bank efficiency does not exert an impact on the effectiveness of monetary policy transmission … expansion of shadow banking activities has been associated with a positive impact of bank efficiency on monetary policy …