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- Author: Fabian Schnell
- Publisher: Springer Gabler
- Year: 2015
- Pages: 166
- ISBN-10: 3658097302
- ISBN-13: 9783658097301
- Format: 14.8 x 21 x 1.1 cm, minkšti viršeliai
- Language: English
- SAVE -10% with code: EXTRA
Heterogeneity in Macroeconomics and Its Implications for Monetary Policy (e-book) (used book) | bookbook.eu
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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.
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- Author: Fabian Schnell
- Publisher: Springer Gabler
- Year: 2015
- Pages: 166
- ISBN-10: 3658097302
- ISBN-13: 9783658097301
- Format: 14.8 x 21 x 1.1 cm, minkšti viršeliai
- Language: English English
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.
Reviews