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OverviewFabian 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. Full Product DetailsAuthor: Fabian SchnellPublisher: Springer Fachmedien Wiesbaden Imprint: Springer Fachmedien Wiesbaden ISBN: 9783658097318ISBN 10: 3658097310 Pages: 180 Publication Date: 01 January 2015 Audience: General/trade , General Format: Electronic book text Publisher's Status: Active Availability: In stock  We have confirmation that this item is in stock with the supplier. It will be ordered in for you and dispatched immediately. Table of ContentsReviewsAuthor InformationTab Content 6Author Website:Countries AvailableAll regions |
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