money but it is the organising feature of modern economies, giving rise to both episodes of stability and crises. In … constructing this argument I consider both orthodox and heterodox points of view. We analyse equilibrium models of money, and find … that while money can exist in sequence economies with frictions, models of this type give no justification for its creation …

for non trivial investment decisions; Allowing for two goods; Introducing money; Introducing price setting; Introducing …

non trivial investment decisions Allowing for two goods Introducing money Introducing price setting Introducing staggering …

Inflation expectations have been of great interest to economists because they predict how agents in an economy set … United States have helped emphasize the importance of inflation expectations, especially when monetary policy is rendered … ineffective and there is almost perfect substitutability between money and bonds due to the zero bound condition of interest rates …

sources of the rise and fall of the Great Inflation from the late 1960s to the early 1980s and of the Great Moderation of … periods is attributed to the time-varying volatility of shocks. The history for inflation is more nuanced, as a more vigorous … stand against it would have reduced inflation in the 1970s, but not completely eliminated it. In addition, they find that …

PURPOSE - The purpose of this paper is to test the hypothesis of long-run money neutrality for Egypt, Jordan and … cointegration techniques to test the neutrality of money hypothesis for three Middle Eastern economies, using quarterly data on … money, prices and real income. The benefit of using this technique lies in its ability to distinguish between cointegration …

This paper examines the relationship between inflation and real income in Australia, Canada, Finland, New Zealand …, Spain, Sweden and the UK which have adopted a "formal" policy of low or zero inflation target. Using cointegration analysis … and a vector error correction model (VECM), it is found that the long-run relationship between inflation and real income …

The article analyzes the public spending of inflation and the reasons for its permanence. It is noted that inflation … negatively affects the finances, monetary and the entire economic system. It reduces the purchasing ability of money, undermines … that accompanying product of inflation as a complex phenomenon is massive and uncontrolled distribution of national income …