payment risk on bank lending, bridging the literatures on payment systems and credit supply. An interquartile increase in …

targeting with inflation targeting while preserving monetarist results. In this monetarism without money, fiscal policy was not … monetary dominance was the monetarist reinterpretation of the Great Depression. In the 1990s orthodoxy replaced money supply … needed in the short-run for macro stabilisation, and in the long-run could only lead to higher inflation rates and to higher …

responses of output, inflation, and money market mutual funds (MMMF) to a positive monetary shock. The idea of incorporating …

inflation. We discuss dollarization, administrative interventions, and other features complicating monetary policy transmission …

Do changes in monetary policy affect inflation and output in the East African Community (EAC)? We find that (i … importance differ across countries; and (iii) reserve money and the policy rate, two frequently used instruments of monetary … policy, sometimes move in directions that exert offsetting expansionary and contractionary effects on inflation - posing …

We propose a simple, model-free way to measure price selection and its impact on inflation. Price selection exists when … selection, increases (decreases) in inflation can be amplified because adjusting prices tend to originate from levels far below … for around 36% of inflation variance in the United Kingdom and the United States, and 28% in Canada. Price selection is …

transmission. Reducing the number of sectors decreases monetary non-neutrality with a similar impact response of inflation. Hence …, the initial response of inflation to monetary shocks is not sufficient to discriminate across models and ignoring …

inflation. Hence, the initial response of inflation to monetary shocks is not sufficient to discriminate across models and for …

inflation. Hence, the initial response of inflation to monetary shocks is not sufficient to discriminate across models and for …