In February 1998 a work was published in the series of discussion papers produced by the Bundesbank which was concemed with problems of measuring inflation in Gerrnany. This paper met with a lively response. The Research Group of the Bundesbank therefore staged a workshop on this subject at...

I analyze how the introduction of financial frictions can affect the trade-off between output stabilization and inflation stability and whether, in the presence of financial frictions, the optimal outcome can be realized or approached more closely if monetary policy is allowed to react to...

In February 1998 a work was published in the series of discussion papers produced by the Bundesbank which was concemed with problems of measuring inflation in Gerrnany. This paper met with a lively response. The Research Group of the Bundesbank therefore staged a workshop on this subject at...