Monetary Policy, Financial Crises, and the Macroeconomy: Festschrift for Gerhard Illing

Introduction.- Part I Liquidity From a Macroeconomic Perspective.- Balancing Lender of Last Resort Assistance with Avoidance of Moral Hazard.- Network Effects and Systemic Risk in the Banking Sector.- Optimal Central Bank Policy in Different Financial Systems.- Contagion Risk during the Euro Area Sovereign Debt Crisis: Greece, Convertibility Risk, and the ECB as Lender of Last Resort.- The Case for the Separation of Money and Credit.- Part II Putting Theory to Work: Macro-Financial Economics from a Policy Perspective.- (Monetary) Policy Options for the Euro Area: A Compendium to the Crisis.- On Inflation Targeting and Foreign Exchange Interventions in a Dual Currency Economy.- Macroprudential Analysis and Policy - Interactions and Operationalization.- Are Through-the-Cycle Credit Risk Models a Beneficial Macro-Prudential Policy Tool?.- Assessing Recent House Price Developments in Germany - An Overview.- Part III Re-Conceptualizing Macroeconomics: An Interdisciplinary Perspective.- German Unification: Macroeconomic Consequences for the Country.- Approaches to Solving the Eurozone Sovereign Default Problem.- Appraising Sticky Prices, Sticky Information, and Limited Higher-Order Beliefs in Light of Experimental Data.- Rising Income Inequality: An Incentive Contract Explanation.- No More Cakes and Ale: Banks and Banking Regulation in the Post-Bretton-Woods Macro-Regime.- Letter to Gerhard Illing.