We study optimal monetary stabilization policy in a DSGE model with microfounded money demand. A search externality creates ‘congestion’ which causes aggregate output to be inefficient. Due to the informational frictions that give rise to money, households are unable to perfectly insure themselves against aggregate shocks. This gives rise to a welfare improving role for monetary policy that wor...

In earlier work (Fuhrer 1996), I document what I view as the failure of standard models of representative consumer and firm behavior to replicate the dynamics that we observe in the aggregate data. In essence, these models fail because they imply that both inflation and real variables must “jump” in response to monetary policy (and other) shocks, in contrast to identified VAR evidence that show...

Fiscal and monetary policy coordination should focus on increasing public welfare maintaining long-term macroeconomic stability. This article aims to enhance the theoretical methodological basis of fiscal formation determine priority areas for improving their ensure sustainable economic development. We developed an institutional approach study fiscal-monetary mix. It is advisable create favorab...

aggregate stability is an important soil property because it dictates how strongly a soil can resist water erosion. the objectives in this study were: (1) to compare the stability of six soil aggregate size fractions, primarily to determine if aggregate stability varies with aggregate size, and (2) to determine with which aggregate size fraction the stability of most soils would be different fr...

The human primary motor cortex (M1) is robustly activated during visually guided hand movements. M1 multivoxel patterns of functional MRI activation are more correlated during repeated hand movements to the same targets than to greatly differing ones, and therefore potentially contain information about movement direction. It is unclear, however, whether direction specificity is due to the motor...

Achieving the 2030 sustainable development goals (SDGs) in Nigeria requires and inclusive economic growth. There is no consensus among economists on effect of monetary policy The results previous studies growth are mixed. main objective this paper to evaluate order ascertain if can be used achieve SDGs Nigeria. from 1991 2020 was evaluated using ordinary least squares regression model. findings...

The effect of inequality of the distribution of income on aggregate consumption has been the subject of considerable debate over decades, especially between the Keynesian economists and the Chicago school economists. In the case of the United States, while income distribution has become more unequal since the 1970s, the country‟s aggregate consumption growth has been maintained at a relatively ...

Instability in the movement of prices is a major concern all countries. The rise foreign exchange and goods services are among key factors that causes fluctuation economic growth country. Thus, this paper adopted ARDL model to examine whether real effective rate, money supply Inflation Gambia for period 1985 2021. finding reveals our variables inflation positively negatively long run short resp...