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Frameworks for the Theoretical and Empirical Analysis of Monetary Policy

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  • Sauer, Stephan

Abstract

This thesis develops and applies three different frameworks to analyse monetary policy from a theoretical and empirical perspective within three self-contained chapters. Chapter 2 looks at optimal monetary policy in the modern micro-founded New Keynesian macroeconomic model, while chapter 3 offers an empirical investigation of monetary policy in the euro area. The final chapter 4 combines a microeconomic model of liquidity shocks on an asset market that includes features of market microstructure theory with a model of the goods market inspired by nominal rigidities as common in macroeconomic models. All three chapters are connected by the prominent role of different policy rules.

Suggested Citation

  • Sauer, Stephan, 2007. "Frameworks for the Theoretical and Empirical Analysis of Monetary Policy," Munich Dissertations in Economics 7179, University of Munich, Department of Economics.
    • Handle: RePEc:lmu:dissen:7179
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    File URL: https://edoc.ub.uni-muenchen.de/7179/1/Sauer_Stephan.pdf
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    Cited by:

    1. Stephan Sauer, 2010. "Discretion Rather Than Rules? When Is Discretionary Policymaking Better Than the Timeless Perspective?," International Journal of Central Banking, International Journal of Central Banking, vol. 6(2), pages 1-29, June.
    2. Sauer, Stephan, 2010. "When discretion is better: Initial conditions and the timeless perspective," Economics Letters, Elsevier, vol. 107(2), pages 128-130, May.

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