Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/23032
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dc.contributor.authorSell, Friedrich L.en_US
dc.contributor.authorKermer, Silvioen_US
dc.date.accessioned2009-01-29T15:35:13Z-
dc.date.available2009-01-29T15:35:13Z-
dc.date.issued2006en_US
dc.identifier.urihttp://hdl.handle.net/10419/23032-
dc.description.abstractGiven all the evidence supporting Milton Friedman's proposition that inflation is now and everywherea monetary phenomenon, it seems that we are wrong when we tend to ignore the behaviourof the monetary aggregates at our peril. The total neglect of information about the monetary aggregatesin the Taylor rule is possibly a strong signal into that erroneous direction. Moreover, so-called"New Keynesianism" has put forward that there is no more need to treat the money market equilibriumin an "LM-setting". Our paper goes back to William Poole's seminal paper on interest rate andmoney supply rules and extends his earlier work to the open economy, various types of shocks andto the analysis of cooperative and non-cooperative behaviour of central banks. The results achievedconfirm that the inclusion of the money market equilibrium enhances the possibilities to comparethe costs and benefits of different monetary policy strategies under cooperative or non-cooperativebehaviour.en_US
dc.language.isogeren_US
dc.relation.ispartofseries|aDiskussionsbeiträge / Institut für Volkswirtschaftslehre, Universität der Bundeswehr München |x2006,3en_US
dc.subject.jelE52en_US
dc.subject.jelF32en_US
dc.subject.jelE42en_US
dc.subject.ddc330en_US
dc.subject.keywordSchockabsorptionen_US
dc.subject.keywordZins- vs. Geldmengenregelnen_US
dc.subject.keyword(Nicht-)Kooperative Geldpolitik bei flexiblen Wechselkursenen_US
dc.titleWilliam Poole in der modernen Makroökonomik: Exegese des ursprünglichen Beitrags und seiner Fortentwicklungen für die offene Volkswirtschaften_US
dc.typeWorking Paperen_US
dc.identifier.ppn521370132en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:ubwwpe:20063-

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