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Money, Payments, and Liquidity$
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Ed Nosal and Guillaume Rocheteau

Print publication date: 2011

Print ISBN-13: 9780262016285

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262016285.001.0001

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Information, Monetary Policy, and the Inflation–Output Trade-Off

Information, Monetary Policy, and the Inflation–Output Trade-Off

Chapter:
(p.161) 7 Information, Monetary Policy, and the Inflation–Output Trade-Off
Source:
Money, Payments, and Liquidity
Author(s):

Ed Nosal

Guillaume Rocheteau

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262016285.003.0007

This chapter asks the question, “How does money affect output?” While money is neutral, it cannot be considered to be superneutral due to the real effects the changes in the rate of growth of money supply have on lowering aggregate real balances, real output, and welfare.

Keywords:   monetary economy, aggregate real balances, real output, changes in money supply, growth of money supply

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