It is a popular notion that money and output are separate and autonomous entities. Money and Inflation argues that this … idea can neither explain the purchasing power of money nor its variations over time, and a new theory is therefore … presented in its place. The book aims to provide the foundations for a new analysis of inflation from a macroeconomic …

This revised second edition of Monetary Policy, Inflation, and the Business Cycle provides a rigorous graduate … for the analysis of monetary policy and its implications for inflation, economic fluctuations, and welfare. A backbone of … inflation-targeting policies. New material includes labor and financial market frictions, the zero lower bound on nominal …