Frameworks for the Theoretical and Empirical Analysis of Monetary Policy

Sauer, Stephan (2007): Frameworks for the Theoretical and Empirical Analysis of Monetary Policy. Dissertation, LMU München: Volkswirtschaftliche Fakultät

Abstract

This thesis develops and applies three different frameworks to analyse monetary policy from a theoretical and empirical perspective within three self-contained chapters. Chapter 2 looks at optimal monetary policy in the modern micro-founded New Keynesian macroeconomic model, while chapter 3 offers an empirical investigation of monetary policy in the euro area. The final chapter 4 combines a microeconomic model of liquidity shocks on an asset market that includes features of market microstructure theory with a model of the goods market inspired by nominal rigidities as common in macroeconomic models. All three chapters are connected by the prominent role of different policy rules.

• Dokumententyp: Dissertationen (Dissertation, LMU München)
• Keywords: Policy rules, timeless perspective, Taylor rule, liquidity provision principle, European Central Bank
• Themengebiete: 300 Sozialwissenschaften ; 300 Sozialwissenschaften > 330 Economics
• Fakultäten: Volkswirtschaftliche Fakultät
• Sprache der Hochschulschrift: Englisch
• Datum der mündlichen Prüfung: 2. Juli 2007
• 1. Bericht­erstatter:in: Illing, Gerhard