is there any macro model/paper introducing money creation (ex nihilo money creation) ? I would be very interested in reading them.
1 Answer
There are many such models. A prime example would be the IS-LM AS-AD model where money supply is controlled by central bank and money can be created at will from nothing (I suppose that is what you mean by 'ex nihilo').
This model is one of the 'workhorse' models of modern macroeconomics so you can find its exposition in any textbook. If you want an introductory treatment then Blanchard et al Macroeconomics: a European Perspective offers one. If you want graduate treatment Romer Advanced Macroeconomics is good source. Or if you specifically want a paper not a book then you can see the Hicks, J. (1980). IS-LM: an explanation. Journal of Post Keynesian Economics, 3(2), 139-154.