内容

目次

Part 1 Empirical evidence on money and output: introduction; some basiccorrelations; estimating the effect of money on output; summary. Part 2 Moneyin a general equilibrium framework: introduction; the Tobin effect; money inthe utility function; summary; appendix - the MIU approximation; problems.Part 3 Money and transactions: introduction; shopping-time models;cash-in-advance models; other approaches; summary; appendix - the CIAapproximation; problems. Part 4 Money and public finance: introduction;bugdet accounting; equilibrium seigniorage; optimal taxation and seigniorage;Friedman's rule revisited; nonindexed tax systems; problems. Part 5 Money andoutput in the short run: introduction; flexible prices; sticky prices andwages; a framework for monetary analysis; inflation persistence; summary;appendix; problems. Part 6 Money and the open economy: introduction; theObstfeld-Rogoff two-country model; policy coordination; the small openeconomy; summary; appendix; problems. Part 7 The credit channel of monetarypolicy: introduction; imperfect information in credit markets; macroeconomicimplications; does credit matter?; summary. Part 8 Discretionary policy andtime inconsistency: introduction; inflation under discretionary policy;solutions to the inflation bias; is the inflation bias important?; do centralbanking institutions matter?; lessons and conclusions; problems. Part 9Monetary-policy operating procedures: introduction; from instruments togoals; the instrument-choice problem; operating procedures and policymeasures; problems. Part 10 Interest rates and monetary policy: introduction;interest-rate rule and the price level; interest rate policies in generalequilibrium models; the term structure of interest rates; a model for policyanalysis; summary; problems.