This thesis estimates the effects of monetary policy shocks by employing vector auto regressions (VAR). I argue that to the extent the central bank and the private sector have information not reflected in the VAR, the ...

This dissertation examines the welfare effects of inflation on employment and output in three different market settings. The theoretical frameworks build on recent studies in the monetary search literature that explicitly ...

This dissertation investigates the impact of central banks' asset purchase programs on the economy and the role of frictions in the corporate loan markets. It builds a series of models with trading and information frictions ...