{"product_id":"9783658097301","title":"Heterogeneity in Macroeconomics and its Implications for Monetary Policy","description":"\u003ch1\u003eHeterogeneity in Macroeconomics and its Implications for Monetary Policy\u003c\/h1\u003e \u003ch2\u003eSchnell, Fabian\u003c\/h2\u003e \u003cp\u003eFabian 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-dependent ones, play a small role with respect to the probability and the size of a price change. All results provide new insights for monetary policy.\u003c\/p\u003e \u003ch3\u003eDetails\u003c\/h3\u003e \u003cp\u003ePublished by: Springer Gabler\u003c\/p\u003e \u003cp\u003ePublication Date: 2015-05-07\u003c\/p\u003e \u003cp\u003eFormat: Paperback\u003c\/p\u003e \u003cp\u003eISBN-13: 9783658097301\u003c\/p\u003e \u003cp\u003eDOI: 10.1007\/978-3-658-09731-8\u003c\/p\u003e \u003cp\u003eDimensions: 210cm x148cm\u003c\/p\u003e \u003cp\u003ePages: 166\u003c\/p\u003e ","brand":"Springer Fachmedien Wiesbaden","offers":[{"title":"Default Title","offer_id":47412213219468,"sku":"9783658097301","price":49.49,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0710\/9545\/1788\/files\/9783658097301.jpg?v=1775843563","url":"https:\/\/lateknightbooks.com\/products\/9783658097301","provider":"Late Knight Books and Services, LLC","version":"1.0","type":"link"}