This paper examines equilibrium determination under different monetary policy regimes when the government might default on its debt. We apply a cash-in-advance model where the government does not have access to non-distortionary taxation and does not account for initial outstanding debt when it...

In this thesis, so far insufficiently considered characteristics of long-run equilibriums in food markets are investigated. For this purpose, multivariate time series methodologies, which were developed for the estimation of long-run relationships by allowing for causality and convergence, are...

In response to the financial crisis of 2008, the Federal Reserve radically increased the monetary base. Banks responded by increasing excess reserves rather than increasing bank loans, and the public responded with a substantial flight to liquidity in the form of currency and demand deposits. As...