This paper investigates the relationship between money growth, inflation, and productive activity in a general … variety, allows us to study price determination in a search-theoretic environment with divisible money and goods. In our basic … channel which links money growth to real activity. …

Recent research showing negative correlations between detrended output and prices during the postwar period has brought … into question the conventional wisdom that prices are procyclical. However, this finding has been shown to be sensitive to … the sample period considered. This paper examines the relationship between output and prices in the frequency domain …

price model to display volatility and comovement of factor inputs and factor prices that are more closely in line with …

The effects on ex ante optima of a lag in seeing monetary realizations are studied using a matching model of money. The … increases in the amount of money that occur with small enough probability can have negative impact effects on output, because it … realizations occur. The information lag also produces prices that do not respond much to current monetary realizations. …

goods. For example, inflation in intermediate goods prices rose from 2.6 percent annually in the first half of 1994 to 7 … less than 3 percent. Many analysts are concerned that recent increases in the prices of crude and intermediate goods may be … expected to move through the production chain, leading to increases in consumer prices. A review of basic economic theory …