Chapters in this book

1. Frontmatter i
2. Dedication v
3. Contents vii
4. Preface xv
5. Part I: Currency and Money
6. Introduction 1
7. 1. The Value of Currency 7
8. 2. Cash as a Medium of Exchange 40
9. 3. Central Bank Digital Currency 76
10. 4. Private Money 92
11. Part II: Stabilization Policies
12. Introduction 113
13. 5. The Benchmark New Keynesian Model 118
14. 6. An AS-AD Graphical Analysis 137
15. 7. Inflation Targeting as an Optimal Policy 150
16. 8. NK Model with a Banking Sector 174
17. Part III. Crisis Models
18. Introduction 199
19. 9. Liquidity Trap 202
20. 10. Deleveraging and Credit Crunch 242
21. 11. Shortage of “Safe Assets” 266
22. Part IV: Inflation
23. Introduction 293
24. 12. The Inflation-Unemployment Trade-Off 299
25. 13. Hyperinflation 329
26. Part V: Conclusion
27. 14. The Future of Monetary Policy 355
28. Part VI: Appendix
29. Appendix to Chapter 1 365
30. Appendix to Chapter 2 367
31. Appendix to Chapter 3 368
32. Appendix to Chapter 5 369
33. Appendix to Chapter 7 373
34. Appendix to Chapter 8 379
35. Bibliography 383
36. Index 399