money but it is the organising feature of modern economies, giving rise to both episodes of stability and crises. In … constructing this argument I consider both orthodox and heterodox points of view. We analyse equilibrium models of money, and find … that while money can exist in sequence economies with frictions, models of this type give no justification for its creation …

consumption function and the demand for money, not to mention monetary history, which helped to undermine the post World War 2 … case for a money growth rule, and the expectations augmented Phillips curve are then taken up, followed by a discussion of …

rate and money growth in influencing economic outcomes are emphasised. Today's standard DSGE approach to modelling …

. We report that the different approach to modeling money - reduced-form vs. explicit role - neither induces theoretical … mechanism that governs cash transactions, not the explicit microfoundation of money. …

. Quantitative goals take three forms: exchange rates, money growth rates, and inflation targets. We analyze the effects on inflation …

ability of money-based forecasts relative to a simple random walk benchmark model was high at medium-term forecasting horizons …