This essay surveys the new monetarist approach to liquidity. Work in this literature strives for
empirical and policy relevance, plus rigorous foundations. Questions include: What is …

This essay surveys the literature on directed search and competitive search equilibrium,
covering theory and a variety of applications. These models share features with traditional …

The purpose of this paper is to discuss some of the models used in New Monetarist
Economics, which is our label for a body of recent work on money, banking, payments …

This essay articulates the principles and practices of New Monetarism, our label for a recent
body of work on money, banking, payments, and asset markets. We first discuss …

African-American students are considerably more likely than their white peers to be rated as
disruptive by their teacher and experience school discipline, but are also much less likely to …

This essay surveys the literature on directed/competitive search, covering theory and
applications in, eg, labor, housing and monetary economics. These models share features …

This article argues that a pressing goal for macroeconomics is to incorporate financial
considerations, but we need models with solid microfoundations. In particular, the use of …

Given the renewed interest in negative interest rates on base money—or equivalently 'taxing
money'—as a means for overcoming the zero bound on short-term nominal interest rates …

In many industrialized countries, cash usage at points of sale has been decreasing owing to
competition from alternative means of payment such as credit cards. At the same time, cash …

We construct a continuous‐time new‐monetarist economy that displays an endogenous,
nondegenerate distribution of money holdings. Properties of equilibria are obtained …