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The functions advantages and definitions of money
Monetary transmission mechanisms and the channels of monetary influence
The demand for money
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aggregate demand analysis argued assets assumed balance of payments bank deposits Bank of England behaviour bonds borrowers building society capital cash balances changes consider costs debt demand for money determined domestic economic agents economy equation equilibrium example excess demand expansion fall Figure financial intermediaries fixed exchange rates foreign exchange foreign exchange market Friedman full employment function increase inflationary influence interest rates investment Keynes Keynesian labour level of income liquidity trap LM curve loans long-run means of payment monetarist monetary approach monetary authorities monetary base monetary base control monetary policy money balances money market money stock money supply money wage NBFIs output panel period Phillips curve portfolio adjustment price level private sector PSBR purchase rate of growth rate of inflation rate of interest rational expectations real wage reduce relationship result rise stability sterling supply of money target transmission mechanism variables wealth effects