Monetary theory and policy

Uncertainties about future monetary policy and inflation have an important influence on individual decision-making of private households and financial investors. An important question relates to the mutual influence of these uncertainties and the interactions of monetary policy itself: Does a high degree of uncertainty about future monetary policy and hence inflation lead to a shift, weakening or even suspension of the conventional transmission mechanism of monetary policy? If so, does this possibly open up additional, unintended scopes for monetary policy? Can these effects offer an explanation for the current development of monetary policy and inflation?

Michael P. Evers

Research contributions:

• Inflation Uncertainty in New Keynesian Models

Michael P. Evers (2022)

• Inflation, Liquidity and Innovation

Michael P. Evers, Stefan Niemann, Marc Schiffbauer, (2020, European Economic Review, Volume 128, 103506)

• Identifying Communication Surprises in ECB Monetary Policy

Markus Kontny, Uros Duric  (2019)

• Phillips Curves in Noisy Information Forecasts

Markus Kontny (2019)