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Keywords:Monetary theory 

Journal Article
A monetarist model for economic stabilization

Review , Volume 52 , Issue Apr , Pages 7-25

Conference Paper
Purchasing power parity as a monetary standard

Proceedings

Journal Article
The case for rules in the conduct of monetary policy: a concrete example

A policy rule can be activist; the distinction between rules and discretion depends on the stage at which optimization calculations enter the policy process. Here a specific monetary rule is proposed, one that sets the monetary base each quarter in a manner designed to keep nominal aggregate demand growing smoothly at a noninflationary rate. Simulations with a simple estimated model suggest that the proposed rule would have performed well over the period 1954-85, despite financial innovations and regulatory change.
Economic Review , Volume 73 , Issue Sep , Pages 10-18

Journal Article
Evaluating the power of monetary policy

Economics Update , Issue Oct , Pages 5

Journal Article
The abrogation of gold clauses in 1933 and its relation to current controversies in monetary economics

Economic and Financial Policy Review , Issue Jul , Pages 1-17

Journal Article
The monetary policy transmission mechanism?

Monetary Trends , Issue Sep

Working Paper
Data uncertainty and the role of money as an information variable for monetary policy

This paper demonstrates that money can play an important role as an information variable and may result in major improvements in current output estimates. However, the specific nature of this role depends on the magnitude of the output measurement error relative to the money demand shock. In particular, we find noticeable but small improvements in output estimates due to the inclusion of money growth in the information set. Money plays a quantitatively more important role with regard to output estimation if we allow for a contribution of monetary analysis in reducing uncertainty due to money ...
Finance and Economics Discussion Series , Paper 2001-54

Working Paper
The life and times of Nicolas Dutot

Nicolas Dutot (1684?1741) is an important figure for the history of economic thought, as a pioneer in monetary theory and price statistics, and for economic history as a chronicler of John Law?s System. Yet until recently very little about him was known, some of it incorrect. I present extensive research that reveals a remarkable career rising from humble origins and full of surprises. He spent his formative years in the ranks of the ?ancienne finance? he was thought to despise, and then worked for the chamber of justice that he so decried in his writings, only to be sent to the Bastille for ...
Working Paper Series , Paper WP-09-10

Working Paper
Dynamics, cycles and sunspot equilibria in \"genuinely dynamic, fundamentally disaggregative\" models of money

This paper pursues a line of Cass and Shell, who advocate monetary models that are "genuinely dynamic and fundamentally disaggregative" and that incorporate "diversity among households and variety among commodities." Recent search-theoretic models fit this description. The authors show that, like overlapping generations models, search models generate interesting dynamic equilibria, including cycles, chaos, and sunspot equilibria. This helps explain how alternative models are related and lends support to the notion that endogenous dynamics and uncertainty matter, perhaps especially in ...
Working Papers (Old Series) , Paper 0210

Journal Article
Inflation, unemployment, and money: comparing the evidence from two simple models

Review , Volume 60 , Issue Sep , Pages 2-6

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Humphrey, Thomas M. 15 items

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Hafer, Rik 5 items

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