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Monetary Policy, Financial Crises, and the Macroeconomy

Festschrift for Gerhard Illing

  • Book
  • © 2017

Overview

Editors:
  1. Frank Heinemann

    1. Chair of Macroeconomics, Technische Universität Berlin, Berlin, Germany

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  2. Ulrich Klüh

    1. Darmstadt Business School, Hochschule Darmstadt, Darmstadt, Germany

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  3. Sebastian Watzka

    1. IMK - Macroeconomic Policy Institute, Hans-Böckler-Foundation, Düsseldorf, Germany

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Table of contents (16 chapters)

  1. Front Matter

    Pages i-viii
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  2. Monetary Policy, Financial Crises, and the Macroeconomy: Introduction

    • Frank Heinemann, Ulrich Klüh, Sebastian Watzka
    Pages 1-16

  4. Putting Theory to Work: Macro-Financial Economics from a Policy Perspective

    1. Front Matter

      Pages 123-123
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    2. (Monetary) Policy Options for the Euro Area: A Compendium to the Crisis

      • Sascha Bützer
      Pages 125-162

    3. On Inflation Targeting and Foreign Exchange Interventions in a Dual Currency Economy

      • Ivana Rajković, Branko Urošević
      Pages 163-176

    4. Macroprudential Analysis and Policy: Interactions and Operationalisation

      • Katri Mikkonen
      Pages 177-200

    5. Are Through-the-Cycle Credit Risk Models a Beneficial Macro-Prudential Policy Tool?

      • Manuel Mayer, Stephan Sauer
      Pages 201-224

    6. Assessing Recent House Price Developments in Germany: An Overview

      • Florian Kajuth
      Pages 225-235

  5. Re-Conceptualizing Macroeconomics: An Interdisciplinary Perspective

    1. Front Matter

      Pages 237-237
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    2. German Unification: Macroeconomic Consequences for the Country

      • Axel Lindner
      Pages 239-263

    3. Approaches to Solving the Eurozone Sovereign Debt Default Problem

      • Ray Rees, Nadjeschda Arnold
      Pages 265-295

    4. Appraising Sticky Prices, Sticky Information and Limited Higher Order Beliefs in Light of Experimental Data

      • Camille Cornand
      Pages 297-306

    5. Rising Income Inequality: An Incentive Contract Explanation

      • Dominique Demougin
      Pages 307-323

    6. No More Cakes and Ale: Banks and Banking Regulation in the Post-Bretton Woods Macro-regime

      • Moritz Hütten, Ulrich Klüh
      Pages 325-349
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Keywords

About this book

This volume investigates different aspects of monetary policy and prevention of financial crises. It discusses some recently suggested measures for central banks' responses to liquidity shortages and to the liquidity trap, methods for assessing the potential of crisis contagion via the interbank network, and the interaction between micro- and macro-prudential regulation. It compares different approaches for solving the Eurozone sovereign-debt problem and provides a new and intriguing explanation for rising income inequality. The authors are experts on monetary policy, financial crises, and contract theory from different European universities and central banks.

Editors and Affiliations

  • Chair of Macroeconomics, Technische Universität Berlin, Berlin, Germany

    Frank Heinemann

  • Darmstadt Business School, Hochschule Darmstadt, Darmstadt, Germany

    Ulrich Klüh

  • IMK - Macroeconomic Policy Institute, Hans-Böckler-Foundation, Düsseldorf, Germany

    Sebastian Watzka

About the editors

Frank Heinemann is professor of macroeconomics at the Berlin University of Technology. His main research interests are monetary macroeconomics, financial crises, and experimental economics.

Ulrich Klüh is professor of economics at Hochschule Darmstadt. His main research interests are macroeconomic theory and policy, central banking, financial markets and institutions, and history and theory of economic thought.

Sebastian Watzka is assistant professor at the Seminar for Macroeconomics of the University of Munich, LMU. His research interests are monetary policy and financial markets, financial crises, inequality and unemployment.

Bibliographic Information

  • Book Title: Monetary Policy, Financial Crises, and the Macroeconomy

  • Book Subtitle: Festschrift for Gerhard Illing

  • Editors: Frank Heinemann, Ulrich Klüh, Sebastian Watzka

  • DOI: https://doi.org/10.1007/978-3-319-56261-2

  • Publisher: Springer Cham

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: Springer International Publishing AG 2017

  • Hardcover ISBN: 978-3-319-56260-5Published: 11 October 2017

  • Softcover ISBN: 978-3-319-85868-5Published: 14 August 2018

  • eBook ISBN: 978-3-319-56261-2Published: 29 September 2017

  • Edition Number: 1

  • Number of Pages: VIII, 351

  • Number of Illustrations: 24 illustrations in colour

  • Topics: Macroeconomics/Monetary Economics//Financial Economics, Economic Policy, Banking, Economic Growth, Risk Management

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