Subject(s): Monetary policy. -- Money. -- BUSINESS & ECONOMICS in Money & Monetary Policy. -- Empirical evidence on money, prices and output -- Bsic correlations, Estimating the effect of money on output , Evidence oh Friedman and Schwartz, Granger causality, Policy uses, VAR approach, Structural econometric models -- Money in the utility function : Basic MIU model, Steady state equilibrium, Interest elasticity of money demand, Welfare cost of inflation, Dynamics in an MIU model, Linear approximation, Calibration -- Money and transaction : CIA model -- Money and public finance : Budget accounting, Moeny and fiscal policy framework, Optimal taxation and seigniorage, Nonindexed tax system , Inflation, Fiscal theory of the price level, Partial equilibrium model, Optimal seigniorage and temporary shock , Friedman's rule revisited -- Money, output and inflation in the short run : flexible prices, Limited participation and liquidity effects, Nominal rigidities, Wage rigidity in an MIU model, Imperfect competition and price stickiness, Inflation persistence, Keynesian model for monetary analysis, General equilibrium , Sticky wages and prices -- Money and the open economy : Obstfeld-Rogoff two-country model, Linear approximation, Policy coordination, Small open economy, Open economy models with optimizing agents and nominal rigidities, Flexible price equilibrium -- Credit channel of monetary policy : Imperfect information in Credit markets, Macroeconomic implications, bank lending channel, Broad credit channel -- Discretionary policy and time inconsistency : Inflation under discretionary policy, solutions to the inflation bias, Central banking institutions matter -- Monetary-policy operation procedures : Instrument choice problem, Poole's analysis, Operation procedures and policy measures, Money multipliers, Reserve market, Fed operating procedures -- Interest rates and monetary policy : interest rate rules and the price level, Liquidity trap, Term structure of interest rates, Simple models for policy analysis, Closed-economy models, Optimal policy -- Policy analysis in new Keynesian models : Optimal commitment and discretion, Policy trade offs, Extensions to the open economy, targeting regimes and instruments rules , Inflation targeting