To broaden the scope of monetary policy, cash abolishment is often suggested as a means of breaking through the zero lower bound. However, practically nothing is said about the welfare costs of such a proposal. Rösl, Seitz and Tödter argue that the welfare costs of bypassing the zero lower...

To broaden the operational scope of monetary policy, several authors suggest cash abolition as an appropriate means of breaking through the zero lower-bound. We argue that the welfare costs of bypassing the zero lower-bound by getting rid of cash entirely are analytically equivalent to negative...

In dieser Studie wird die kürzlich von Feldstein (1996) aufgeworfene Frage für die Bundesrepublik Deutschland empirisch untersucht: "If the true and fully anticipated rate of inflation has stabilized at a low level, i.e. two per cent, is the gain from reducing inflation to zero worth the...

This study empirically investigates for the case of Germany the following question, recently posed by Feldstein (1996): "lf the true and fully anticipated rate of inflation has stabilized at a low level, i.e. two per cent, is the gain from reducing inflation to zero worth the sacrifice in output...

This study empirically investigates for the case of Germany the following question, recently posed by Feldstein (1996): "lf the true and fully anticipated rate of inflation has stabilized at a low level, i.e. two per cent, is the gain from reducing inflation to zero worth the sacrifice in output...

In dieser Studie wird die kürzlich von Feldstein (1996) aufgeworfene Frage für die Bundesrepublik Deutschland empirisch untersucht: "If the true and fully anticipated rate of inflation has stabilized at a low level, i.e. two per cent, is the gain from reducing inflation to zero worth the...