bokomslag Heterogeneity in Macroeconomics and its Implications for Monetary Policy
Samhälle & debatt

Heterogeneity in Macroeconomics and its Implications for Monetary Policy

Fabian Schnell

Pocket

749:-

Funktionen begränsas av dina webbläsarinställningar (t.ex. privat läge).

Uppskattad leveranstid 10-16 arbetsdagar

Fri frakt för medlemmar vid köp för minst 249:-

  • 166 sidor
  • 2015
Fabian Schnell develops a model indicating that by keeping real interest rates too low, monetary policy can distort the allocation of resources across firms and potentially delay economic recovery after a recession. This is a new channel of monetary policy that is especially relevant in view of "Quantitative Easing" programs. A second model focuses on the short-term implications of heterogeneously productive firms, showing an acceleration effect of technology shocks. Finally, an empirical investigation of firms' price-setting behaviors shows that time-dependent factors, relative to state-dependent ones, play a small role with respect to the probability and the size of a price change. All results provide new insights for monetary policy.
  • Författare: Fabian Schnell
  • Format: Pocket/Paperback
  • ISBN: 9783658097301
  • Språk: Engelska
  • Antal sidor: 166
  • Utgivningsdatum: 2015-05-07
  • Förlag: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG