Table of Contents:
  • 1. Empirical evidence on money, prices, and output. 2. Money-in-the-utility function. 3. Money and transactions. 4. Money and public finance. 5. Money, output and inflation in the short run. 6. Money and the open economy. 7. The credit chanel of monetary policy. 8. Discretionary policy and time inconsistency. 9. Monetary-policy operating procedures. 10. Interest rates and monetary policy. 11. Policy analysis in new Keynesian models. 12. Appendix.