Project Monetary Economics

General  Results


In the field of monetary economics my work comprises theoretical models as well as empirical work. My theoretical contributions are dedicated to the integration of money, payments systems and banking systems into general equilibrium models used in order to analyze the monetary transmission process. The foundation for this work is delivered in "Endogenous Money in Static Equilibrium" in which an endogenous foundation for money in a static general equilibrium model is developed. Based on this result "Variations in Transaction Costs and Monetary Policy" uses a dynamic stochastic general equilibrium model framework to analyze the effects of efficiency changes within the banking/payments system, i.e. in the sector which provides transaction media, on the mechanisms which transmit the interest rate impulses of the central bank to the real economy. After identifying the defining characteristics of electronic money “Electronic Money and the Monetary Transmission Process” applies the sane methodology to this new transaction medium in order to discuss its consequences for the monetary transmission process and monetary policy in general.
My empirical contribution
"A VECM evaluation of monetary transmission in Uzbekistan."  delivers an evaluation of the monetary transmission process in Uzbekistan. Thus it closes a gap in the literature on monetary transmission in transition countries and provides some policy recommendations to the Central Bank of Uzbekistan.
My current research in the field of monetary economics focuses on the integration of financial systems in monetary models of the economy.

Any comments on this line of work or the contributions presented above are highly appreciated. Please feel free to contact me with all your remarks or questions.


Monetary Economics, Macroeconomics, Computational Economics and Financial Stability