Q. Money market with inflation and constant money supply growth?

If π_M = π and π^e = π, both IS- and LM-curve will be fixed. 

Figure: The money market with inflation and constant money supply growth

It is then likely to determine R* and Y *. We can also figure out the real interest rate as r = R - π^e and π^e is given. All variables are now concluded. As π and π_W are exogenous, P and W are given over time (as long as we know W and P at one point in time). L is determined and we do not allow L to exceed L_OPT as this would require a drop in real wages π > π_W at least for a while. 

If, for instance π_M< π, LM curve will glide upwards, R (and r) will increase whereas Y will fall. In a model with inflation, we characteristically consider changes in the growth of money supply, π_M, instead of changes in the money supply itself when we discuss monetary policy.