Gertrude Tumpel-Gugerell
Monetary Policy and real economy
For decades, the real economic effects of monetary policy have been the subject of heated debate. Both in the theoretical discussion and on the empirical level, a consensus has emerged in the past few years that monetary policy has an important real economic impact in the short term, but is neutral in the long term. The following contribution presents new aspects of this discussion and addresses hitherto unsolved questions.
