untersuchen. Der erste Aufsatz analysiert, wie das Verhalten der Inflation nach z.B. geldpolitischen Veränderungen erklärt werden … konventionelle Sichtweisen über die Inflation zu modellieren. Ich verwende ein DSGE Modell mit klebriger Information und vergleiche … on the macroeconomy. The first essay focuses on the question: how can we explain the behavior of inflation in response to …

adjustments similar to that observed in microeconomic data, both for low and high inflation. Our setup is based on one fundamental …, and because it implies a large fall in the standard deviation of price adjustments as trend inflation increases. Even …-behaved when we change the steady state inflation rate, matching the data at least as well as Golosov and Lucas' model …

to iid and autocorrelated money growth shocks, and decompose the inflation impact into 'intensive margin', 'extensive … inflation and output. The real effects are substantially larger if money growth is autocorrelated. In contrast, if we instead … impose a fixed menu cost specification, money growth shocks cause a sharp spike in inflation (via the selection component) so …