money and its interaction with monetary policy. Borrowing capacity, and ultimately consumption, is linked to the value of …

criticized for failing to explain common trends in money growth and inflation, and that therefore money should be used as a cross …

Some have argued that a significant decrease in the demand for money, due to financial innovations, could imply that … rule the roost. In the 1930s, starting from Keynes's ideas and referring to money in general, Kaldor had followed a similar … line of analysis. In principle, a new unit of account could displace conventional money and, hence, central banks. But this …

The European Central Bank has assigned a special role to money in its two pillar strategy and has received much … criticism for this decision. In this paper, we explore possible justifications. The case against including money in the central … contributions to research on monetary policy in the last two decades. Of course, if one allows for a direct effect of money on …

The European Central Bank has assigned a special role to money in its two pillar strategy and has received much … criticism for this decision. The case against including money in the central bank's interest rate rule is based on a standard … decades. In this paper, we develop a justification for including money in the interest rate rule by allowing for imperfect …

criticized for failing to explain common trends in money growth and inflation, and that therefore money should be used as a cross …

identified asset price boom/bust episodes for 18 OECD countries since the 1970s, while taking care of the endogeneity of money … shocks from VARs in growth rates. Residential property price developments and money growth shocks accumulated over the boom … shocks seems to shift from asset price inflation to consumer price inflation. The results only hold for broad money growth …