Hidden Bibliographic Details
| ISBN: | 9783658097318
3658097310
9783658097301
3658097302
9783658097301
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| Notes: | "Dissertation, University of St. Gallen, Switzerland, 2014."
Includes bibliographical references.
Online resource; title from PDF title page (SpringerLink, viewed May 6, 2015).
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| Summary: | Fabian Schnell develops a model indicating that by keeping real interest rates too low, monetary policy can distort the allocation of resources across firms and potentially delay economic recovery after a recession. This is a new channel of monetary policy that is especially relevant in view of "Quantitative Easing" programs. A second model focuses on the short-term implications of heterogeneously productive firms, showing an acceleration effect of technology shocks. Finally, an empirical investigation of firms' price-setting behaviors shows that time-dependent factors, relative to state-depen.
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| Other form: | Printed edition: 9783658097301
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| Standard no.: | 10.1007/978-3-658-09731-8
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