Preferences, Nominal Rigidities, and Monetary Policy

Ahrens, Steffen

This thesis takes an alternative view on preferences and nominal rigidities and studies their implications for monetary policy. While the alternative view on preferences provides rationales for long-run effects of monetary policy and endogenous price stickiness, the alternative view on nominal rigidities challenges the time-dependent pricing paradigm and questions the high degree of nominal inertia estimated from quarterly data. The thesis shows that each of these alternative views has far reaching implications for the conduct of monetary policy analysis.

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Ahrens, Steffen: Preferences, Nominal Rigidities, and Monetary Policy. 2014.

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