| Grimme, Christian (2015): Essays on uncertainty and business cycles. Dissertation, LMU München: Faculty of Economics |
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Abstract
The present work contributes to the literature on uncertainty by using empirical methods to measure uncertainty and volatility, and empirical and theoretical methods to analyze two transmission channels through which uncertainty is linked to the business cycle. The first chapter looks into the problem of measuring inflation uncertainty and proposes to use common information contained in a variety of different uncertainty proxies. In the second chapter, we develop measures of firm-specific volatility and quantify the effect of heightened volatility on the price setting behavior of firms and analyze whether this link changes the effectiveness of monetary policy. The third chapter compares the effects of heightened idiosyncratic uncertainty on credit spreads in bank-based and market-based financial systems.
| Item Type: | Theses (Dissertation, LMU Munich) |
|---|---|
| Keywords: | Uncertainty, Price Setting, Financial Frictions, Survey Data, New Keynesian DSGE Model |
| Subjects: | 300 Social sciences 300 Social sciences > 330 Economics |
| Faculties: | Faculty of Economics |
| Language: | English |
| Date of oral examination: | 26. October 2015 |
| 1. Referee: | Carstensen, Kai |
| MD5 Checksum of the PDF-file: | c07e854d768073aa6de38f026dbc303a |
| Signature of the printed copy: | 0001/UMC 23418 |
| ID Code: | 18815 |
| Deposited On: | 08. Dec 2015 09:16 |
| Last Modified: | 23. Oct 2020 21:30 |
