In models of money with an infinitely-lived representative agent (ILRA models), the optimal monetary policyis almost …, and why. We investigate the welfare properties of monetary policy in a simpleOG model under two different types of money … demand specifications and under two alternative assumptionsabout the generational timing of taxes for money retirement. We …

on March 12, 1933, when he saidthat the reopened banks would be safer than the proverbial“money under the mattress …

of money to promote its economic objectives. Forexample, Milton Friedman (1959, p. 24) defined the tools ofmonetary … policy to be those “powers that enable the [FederalReserve] System to determine the total amount of money inexistence or to … alter that amount.” In fact, the very termmonetary policy suggests a central bank’s policy toward thesupply of money or the …

This paper studies the joint business cycle dynamics of inflation, money growth, nominal and real interest rates and the … velocity of money. I extend and estimate a standard cash and credit monetary model by adding idiosyncratic preference shocks to …

the disappearance of good money over this period has provided any solid quantitative assessment of the effectiveness of …

bank through which he concealed over £3m in counterfeit money.[...] …

measure the velocity of money ranging from the 17th to the 20th centuries. These historical experiences suggest that numerical …

saving money to saving time came when railway technology stopped simply fulfilling existing demand more cheaply (travel for …