alternative "credit view". We argue that the money view has been incompletely presented in much of the literature and in almost …Several articles have recently questioned the "money view" of the monetary transmission mechanism and have offered an … all textbooks on Macroeconomics and Money and Banking. A distinction between the two views is unnecessary if one presents …

The paper explores the role, evolution and ruling principles of the concept of "money" in the 21st Century. In this …

-wide model, in which the stock of money doesnot play any causal role. The stock of money operates a mere residual in the economic … process. The absence of the stock of money in many current debates over monetary policy has prompted the statement by the … and more concerned with price stability, less and less attention is paid to money. Indeed, the decline of interest in …

-wide model, in which the stock of money doesnot play any causal role. The stock of money operates a mere residual in the economic … process. The absence of the stock of money in many current debates over monetary policy has prompted the statement by the … and more concerned with price stability, less and less attention is paid to money. Indeed, the decline of interest in …

-wide uncertainty and in the process also contribute to the literature on portfolio rebalancing. Our general point is that money matters …

For more than seven years interest rates have remained on historically low levels. Yet both credit growth and the … structural factors and policies that dampen the risk of escalating prices and credit expansion on the German housing market. …

provides natural instrumental variables and a proxy for credit demand. Unlike previous papers, this paper studies the effects …

For more than seven years interest rates have remained on historically low levels. Yet both credit growth and the … structural factors and policies that dampen the risk of escalating prices and credit expansion on the German housing market …

This paper investigates the effect of inflation volatility on private sector credit growth. The results indicate that … private sector credit growth is positively linked to the one period lagged inflation volatility. Given that past monetary … positive response of private sector credit growth to past inflation volatility suggests a credible monetary policy regime in …