investment of money market funds (MMFs) at the Federal Reserve's overnight reverse repo (ON RRP) facility has continued to …

modified to account for observed money growth and inflation trends, and that monetary trends may serve as a useful cross … persistent errors in monetary policy and sustained trends in money growth and inflation. If interest rate prescriptions derived … from Keynesian-style models are augmented with a cross-check against money-based estimates of trend inflation, inflation …

-run potential output. Despite well documented theoretical and empirical consensus on money neutrality in the literature, the role of … money as an informational variable for monetary policy decision has remained opened to debate with empirical works providing …

money, or towards newly created asset price bubbles. …

This paper demonstrates how a target for money growth can be beneficial for an inflation targeting central bank acting … under discretion. Because the growth rate of money is closely related to the change in the interest rate and he growth of … real output, delegating a money growth target to the central bank makes discretionary policy more inertial, leading to …

We analyze money financing of fiscal transfers (helicopter money) in two simple New Keynesian models: a "textbook …" model in which all money is non-interest-bearing (e.g., all money is currency), and a more realistic model with interest …-bearing reserves. In the textbook model with only non-interest-bearing money, we find the following: A money-financed fiscal expansion …

. Timing and information frictions create a need for inside (bank deposits) and outside money (CBDC) to finance production. To …