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)

"How much discretion should the monetary authority have in setting its policy? This question is analyzed in an economy with an agreed-upon social welfare function that depends on the randomly fluctuating state of the economy. The monetary authority has private information about that state. In...

"We propose an integrated treatment of the problems of optimal monetary and fiscal policy, for an economy in which prices are sticky (so that the supply-side effects of tax changes are more complex than in standard fiscal analyses) and the only available sources of government revenue are...

"We analyze the setting of monetary and nonmonetary policies in monetary unions. We show that in these unions a time inconsistency problem in monetary policy leads to a novel type of free-rider problem in the setting of nonmonetary policies, such as labor market policy, fiscal policy, and bank...