Regardless of the historical evolution of money, some passages of Aristotle's works shed light on its meaning and nature. This paper will attentively consider these passages. The first section presents Aristotle's thoughts ...

The essentiality of money is commonly justi ed on e¢ ciency grounds. In this paper, we propose an alternative view on the essentiality of money. We consider an economy with llimited monitoring where agents have to coordinate ...

Fundamental models of money, while explicit about the frictions that render money essential, are silent on how agents actually coordinate in its use. This paper studies this coordination problem, providing an endogenous ...

This paper investigates which properties money-demand functions have to satisfy to be consistent with multidimensional extensions of Lucasí(2000) versions of the Sidrauski (1967) and the shopping-time models. We also ...

The aim of this paper is to analyze the quantity theory of money to assess the relationship between the money supply, inflation and economic growth. Inflation and the amount of money in circulation have a direct relationship.

Why are macroeconomic considerations, in particular those about money and currencies, relevant for economic policy if the overall goal of governments is welfare for the majority of the population? Broadly speaking, economic ...

This paper investigates which properties money-demand functions must satisfy so that they are consistent with Lucasís [Lucas, R.E., Jr., 2000. Ináation and welfare. Econometrica 68, 247-274] versions of the Sidrauski and ...

Fischer (1979) and Asako (1983) analyze the sign of the correlation between the growth rate of money and the rate of capital accumulation on the transition path. Both plug a CRRA utility (based on a Cobb-Douglas and a ...