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Die Stabilisierungsfunktion von Geldpolitik in der kurzen Frist

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  • Mislin, Alexander
Abstract
Modelle der neu-keynesianischen Ökonomie geben eine Erklärung für die kurzfristige Nichtneutralität des Geldes. Als Erklärungsansatz dient hierbei die Annahme nominaler Rigiditäten auf dem Arbeits- und Gütermarkt. Der vorliegende Beitrag zielt auf einen Vergleich zweier Modelle der neukeynesianischen Literatur. Zum einen wird das Modell von Fisher (1977) analysiert, zum anderen das Modell von Calvo (1983). Beide Modelle beruhen auf der Annahme der zeitlich gestaffelten Preissetzung (?Staggered Pricing?). Ein wesentlicher Unterschied zwischen beiden ist, dass das Fisher- Modell von einer festen Fixierung der Preise auf dem Arbeitsmarkt, d.h. der Nominallöhne ausgeht, das Calvo-Modell hingegen von einer stochastischen Fixierung der Preise auf dem Gütermarkt. Im folgenden wird - im anschließenden Abschnitt 2, 3 und 4 - das Modell von Fisher (1977) und Calvo (1983) formal und verbal analysiert. Dabei wird im Abschnitt 4.2 das Verfahren der Dynamischen Programmierung erläutert, um im Rahmen des Modells von Calvo (1983) eine dynamische Analyse durchf¨uhren zu können. Gegenstand des Abschnittes 5 ist ein Vergleich beider Modelle bezüglich der neu-keynesianischen Phillipskurve. Der Beitrag endet mit einer Zusammenfassung.

Suggested Citation

  • Mislin, Alexander, 2005. "Die Stabilisierungsfunktion von Geldpolitik in der kurzen Frist," Discussion Papers 2005/14, Free University Berlin, School of Business & Economics.
    • Handle: RePEc:zbw:fubsbe:200514
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    References listed on IDEAS

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    1. Taylor, John B, 1980. "Aggregate Dynamics and Staggered Contracts," Journal of Political Economy, University of Chicago Press, vol. 88(1), pages 1-23, February.
    2. Sargent, Thomas J & Wallace, Neil, 1975. ""Rational" Expectations, the Optimal Monetary Instrument, and the Optimal Money Supply Rule," Journal of Political Economy, University of Chicago Press, vol. 83(2), pages 241-254, April.
    3. Calvo, Guillermo A., 1983. "Staggered prices in a utility-maximizing framework," Journal of Monetary Economics, Elsevier, vol. 12(3), pages 383-398, September.
    4. Lucas, Robert Jr., 1972. "Expectations and the neutrality of money," Journal of Economic Theory, Elsevier, vol. 4(2), pages 103-124, April.
    5. Brock, William A, 1974. "Money and Growth: The Case of Long Run Perfect Foresight," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 15(3), pages 750-777, October.
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    3. Bitzer, Jurgen & Geishecker, Ingo, 2006. "What drives trade-related R&D spillovers? Decomposing knowledge-diffusing trade flows," Economics Letters, Elsevier, vol. 93(1), pages 52-57, October.

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