We study the responses of real and nominal prices to random flutuations in costs and money growth using a monetary search economy in which there are no costs or temporal restrictions on sellers' ability to change prices. The economy exhibits a form of price stickiness in that the price level may...

This paper was presented as the 2006 W.A. Mackintosh Lecture at Queen's University. I consider some of the leading arguments for assigning an important role to tracking the growth of monetary aggregates when making decisions about monetary policy. First, I consider whether ignoring money means...

This paper analyses the relationship between the prevailing liquidity conditions (such as measures of money, credit and interest rates) and developments in asset prices from a monetary analysis perspective. After having identified periods of sustained excess liquidity, we analyse under which...

Woodford (2003) describes a popular class of neo-Wicksellian models in which monetary policy is characterized by an interest-rate rule, and the money market and financial institutions are typically not even modeled. Critics contend that these models are incomplete and unsuitable for...

Growth in deposits and broad money aggregates surged in Norway after the outbreak of the Covid-19 pandemic. Usually, we think of deposit (or money) growth as going hand in hand with bank lending growth, since only banks can create money. But lending did not grow much more than usual in this...

Wie kann der erhöhte Anteil durch Photovoltaik und Windkraft fluktuierend erzeugter Energie im Stromnetz ausgeglichen werden? Biogas- und Biomethananlagen sind interessante technologische Lösungen zur Stabilisierung des Stromnetzes. Die Umsetzung der Biomasse zu Methan erfolgt aber aufgrund...

Der Grundsatz "Lernen erzeugt Lernen" gilt nach neuen Erkenntnissen nicht nur für frühkindliche Bildung, sondern auch für die Dauer des Schulbesuchs. - Eine aktive Teilnahme an Weiterbildungen begünstigt berufliches Vorankommen und reduziert das Risiko eines Jobverlusts. Erstmals zeigt eine...