efficiency of MTR in Egypt by measuring; whether there is a relationship between money and prices, the stability of the velocity … of circulation, and the stability of the demand for money function. The study concluded that MTR is not efficient to tie … once the prerequisites for IT regime have been met. -- inflation targeting ; demand for money function ; monetary policy in …

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 …

, either directly through a central bank digital currency (CBDC) or indirectly through other policy instruments, it can only …