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Heterogeneity in Macroeconomics and Its Implications for Monetary Policy

by Fabian Schnell
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Current price ₹3,633.00
Original price ₹5,589.00
Original price ₹5,589.00
Original price ₹5,589.00
(-35%)
₹3,633.00
Current price ₹3,633.00

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Book cover type: Paperback
  • ISBN13: 9783658097301
  • Binding: Paperback
  • Subject: N/A
  • Publisher: Springer
  • Publisher Imprint: Springer Gabler
  • Publication Date:
  • Pages: 166
  • Original Price: EUR 49.99
  • Language: English
  • Edition: 2015
  • Item Weight: 250 grams
  • BISAC Subject(s): Economics / General

From the Back Cover

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.

Contents

  • Introduction: Heterogeneity and Macroeconomics
  • Can Monetary Policy Delay the Reallocation of Capital?
  • Business Cycles and Monetary Policy with Productivity Heterogeneity
  • What Determines Price Changes and the Distribution of Prices? Evidence from the Swiss CPI

    Target Groups

  • Researchers and students in macroeconomics
  • Governmental institutions and central banks
  • Managers of commercial banks, nongovernmental organizations, think tanks

The Author

Fabian Schnell, Ph.D., works as a research associate at the University of St. Gallen and as a project leader for economic policy at economiesuisse, the Swiss Business Federation.

Fabian Schnell, Ph.D., works as a research associate at the University of St. Gallen and as a project leader for economic policy at economiesuisse, the Swiss Business Federation.

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