For some time now, structural macroeconomic models used at central banks have been predominantly New Keynesian DSGE models featuring nominal rigidities and forwardlooking decision-making. While these features are widely deemed crucial for policy evaluation exercises, most central banks have...

The complexity resulting from intertwined uncertainties regarding model misspecification and mismeasurement of the state of the economy defines the monetary policy landscape. Using the euro area as laboratory this paper explores the design of robust policy guides aiming to maintain stability in...

Standard-Lehrbuch an Hochschulen, um ca. 50 Seiten erweitert und auf jeden Fall neben die Vorauflage (2001) zu stellen (Erstausgabe war im ID 28/99). Das Arbeitsbuch dazu von Marco Herrmann (ID 36/01), jetzt in 2., überarbeiteter Auflage lieferbar. (3) (LK/E: Kardung)