We develop a dynamic general equilibrium model to analyze the relationship between monetary policy, money demand, and …, when inflation exceeds a certain threshold, money is too costly to hold, which results in a decrease in output and an …

economics, and is renowned as the progenitor of the "horizontalist" analysis of endogenous money. More recently, he has embraced … macroeconomics of endogenous money -- pt. 4. The macroeconomics of exogenous interest rates -- pt. 5. Unemployment, inflation and the …

Recent work on money and endogenous growth finds modest welfare costs of inflation. Furthermore, high inflation reduces …