-separability of the utility function, inflation aversion, nominal transaction frictions). The monograph is organized as follows … market share competition with the assumption that agent?s behavior is characterized by inflation aversion. Chapter IV is … devoted to the GMM estimation of crucial parameters of the inflation-aversion model of the previous chapter. A model featuring …

function this thesis uses a robust control approach. Uncertainty is represented by a vector-shock-process, distorting the … equilibrium to achieve a simple, linear model, that only depends on inflation, the output gap, and the interest rate, in the case … inflation dynamics is crucial. Because of the controversial debate on the importance of expectations, the consequences of …

Central banks are viewed by the general public as reputable institutions, a perception bolstered by economic theory and … Drives Inflation. Chapter IV introduces a second model of a corrupt central banker, one who sells inside information … general seems to increase the inflation rate. My model of the corrupt central banker provides a new explanation of this effect …

untersuchen wir die Rolle der Geldpolitik während der Weltwirtschaftskrise in den USA. Die besondere Rolle der Geldpolitik gilt … Effekte der systematischen Komponente der Geldpolitik an. Wir finden heraus, dass der Anteil der Geldpolitik insgesamt zwar … explizit ökonomische Theorie zur Datenanalyse verwendet. Zur Identifikation makroökonomischer Schocks verwende ich sowohl …

monetary theory of production that integrates the insights of Post-Keynesian monetary theory and the triangular contracts of …

particular, standard local projections identify responses that include an effect due to the persistence of the shock, while … projections and moving average representations. In particular, the inclusion of leads of the shock in local projections allows to … proyecciones locales estándar identifi can respuestas que incluyen un efecto debido a la persistencia del shock, mientras que las …

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth", describing the … able to work themselves out fully. In this context, monetary shocks have a gradual and delayed effect on inflation, and … these shocks also generate plausible impulse-responses for unemployment. Although our theory contains no money illusion, no …

The current discussion of Inflation Targeting (IT) in emerging economies deals with the effects that nominal exchange … rate movements have on the overall inflation rate. The literature has focused in the analysis of the advantages and …-through effect into inflation. So far none of them have dealt with the differences arising from the policy instruments used to fight …

This paper presents new non-linear regression estimates of the relationship between inflation and economic growth for … inflation is associated with moderate gains in GDP growth up to a roughly 15 – 18 percent inflation threshold. However, the … at all with either the inflation coefficient or our estimated turning point. With the middle income countries, we return …