The new edition of a comprehensive treatment of monetary economics, including the first
extensive coverage of the effective lower bound on nominal interest rates. This textbook …

Recent work on the design of monetary policy reflects a general consensus on the
appropriate objectives of monetary policy. As articulated by Lars EO Svensson (1999a, p …

This paper considers the role of monetary aggregates in modern macroeconomic models of
the New Keynesian type. The focus is on future model developments that are suggested by …

This paper investigates the empirical relevance of a new framework for monetary policy
analysis in which the decision makers are allowed, but not required, to weight differently …

The analysis of this paper demonstrates that when the Phillips curve has forward-looking
components, a goal for average inflation-ie, targeting a j-period average of one-period …

Das erfolgreiche Lehrbuch, das sich auch als Nachschlagewerk für die Praxis bewährt hat,
liegt nun in 5. Auflage vor. Es wurde ua durch eine Diskussion der institutionellen …

The first six years of ECB monetary policy are examined using a general framework that
allows central bankers to weight differently positive and negative deviations of inflation …

In the second half of the twentieth century, the German Bundesbank established its
reputation as one of the most successful central banks in the world. Along with the Swiss …

We quantify the welfare differential between precommitment and discretionary monetary
policy in three estimated models of the US economy by calculating the permanent deviation …

We present and test a model of the Eurozone, with a special emphasis on the role of risk
aversion and money. The model follows the New Keynesian DSGE framework, money being …