Heterogeneity in Macroeconomics and its Implications for Monetary Policy (Paperback, 2015 ed.)

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.

General

Imprint:	Springer Gabler
Country of origin:	Germany
Release date:	May 2015
First published:	2015
Authors:	Fabian Schnell
Dimensions:	210 x 148 x 11mm (L x W x T)
Format:	Paperback
Pages:	166
Edition:	2015 ed.
ISBN-13:	978-3-658-09730-1
Categories:	Books > Business & Economics > Economics > General
LSN:	3-658-09730-2
Barcode:	9783658097301

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