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Heterogeneity in Macroeconomics and its Implications for Monetary Policy Fabian Schnell 2015 edition
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Heterogeneity in Macroeconomics and its Implications for Monetary Policy
Fabian Schnell
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.
166 pages, 11 black & white illustrations, biography
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