Modern money theory on fiscal and monetary policies: empirics, theory, and praxis

Optimality Of Monetary And Fiscal Policies In Iran: An Application Of The Stochastic Optimal Control Theory

Recitation 7: Empirics and Theory on Monetary Policy Design

Over the last couple of weeks in lectures, we have considered optimal monetary policy in the baseline model and in models with extensions. Professor Gali provided an empirical overview of monetary policy rules in di¤erent periods, for example the US experience preand post-Volcker. In the context of cost-push shocks, we discussed monetary policy with and without commitment. This recitation hando...

optimality of monetary and fiscal policies in iran: an application of the stochastic optimal control theory

Monetary Theory and Electronic Money: Reflections on the Kenyan Experience

I n 2007, the leading cell phone company in Kenya, Safaricom Ltd., launched M-PESA, a short message service (SMS)-based money transfer system that allows individuals to deposit, send, and withdraw funds from a virtual account on their cell phones and that is separate from the banking system. M-PESA has grown rapidly, currently reaching more than seven million users, approximately 38 percent of ...

Modern Theory of Unemployment Fluctuations: Empirics and Policy Applications

Strong and widely accepted evidence shows that the natural rate of unemployment varies over time with substantial amplitude. The frictions in the labor market that account for positive normal levels of unemployment are not simple and mechanical. Instead, as a rich modern body of theory demonstrates, the natural rate of unemployment is an equilibrium in which the volumes of job-seeking by worker...