Macroeconomics (advanced level) (Alexey Devyatov)

Block 6. Money, inflation and optimal monetary policy

The block addresses the following questions:

  • Quantity theory of money.
  • Neutrality and superneutrality of money.
  • Sidrauski model.
  • Optimal monetary policy in Sidrauski model.
  • Friedman rule.
  • Cagan model of hyperinflation.
  • The role of expectations in monetary dynamics.

Lecture 6.1

Lecture 6.2

Lecture 6.3

Lecture 6.4