This paper examines the usefulness of considering monetary aggregates when assessing monetary policy stance, and contrasts monetary analysis to the current mainstream monetary policy analysis. Monetary developments, unlike interest rate stance measures, are shown to provide quantitative...

This paper examines the usefulness of considering monetary aggregates when assessing monetary policy stance, and contrasts monetary analysis to the current mainstream monetary policy analysis. Monetary developments, unlike interest rate stance measures, are shown to provide quantitative...

Diese Dissertation besteht aus drei empirischen Analysen im Bereich der monetären Ökonomie. Jedes Kapitel liefert einen Beitrag zur Untersuchung, wie sich eine Veränderung der Liquidität auf die Wirtschaft auswirkt. Der erste Aufsatz untersucht die Korrelation zwischen Geld und Inflation....

In general equilibrium models, optimal cyclical monetary policy is usually derived around an optimal steady-state inflation level, which in most cases is zero or equal to the negative of the real interest rate. This paper examines whether and how different steady-state inflation levels and other...