Monetary Policy under Uncertainty

Historical Origins, Theoretical Foundations, and Empirical Evidence

  • Oliver Sauter

Table of contents

  1. Front Matter
    Pages 1-19
  2. Historical Origins of Uncertainty in Economic Theory

    1. Front Matter
      Pages 7-7
  3. Theoretical Foundations of Monetary Policy under Uncertainty

    1. Front Matter
      Pages 37-37
  4. Empirical Investigations on Uncertainty

    1. Front Matter
      Pages 143-143
    2. Oliver Sauter
      Pages 177-197
  5. Back Matter
    Pages 199-221

About this book


Oliver Sauter analyzes three aspects of monetary policy under uncertainty. First he shows that the terms risk and uncertainty are often wrongly used as synonyms despite their different meanings. The second aspect is the proper examination and incorporation of uncertainty into a monetary policy framework. The author undertakes a systematization with a closer look at each identified form of uncertainty. Thirdly, he focuses on the quantification of uncertainty from two different perspectives, either from a market perspective or from a central bank perspective.



  • Historical Origins of Uncertainty in Economic Theory
  • Theoretical Foundations of Monetary Policy under Uncertainty
  • Empirical Investigations of Market Uncertainty
  • Communicated Uncertainty of the European Central Bank


Target Groups

  • Researchers and students from the fields of economics, macro economics and finance


The Author

Oliver Sauter completed his doctoral thesis under the supervision of Prof. Dr. Peter Spahn at the Chair of Economics, esp. Economic Policy, at the University of Hohenheim, Stuttgart, Germany.


Central Bank Communication Monetary Policy Risk vs. Uncertainty Uncertainty

Authors and affiliations

  • Oliver Sauter
    • 1
  1. 1.Institut für Volkswirtschaftlehre Lehrstuhl für Wirtschaftspolitik 520aUniversität HohenheimStuttgartGermany

Bibliographic information

  • DOI
  • Copyright Information Springer Fachmedien Wiesbaden 2014
  • Publisher Name Springer Gabler, Wiesbaden
  • eBook Packages Business and Economics
  • Print ISBN 978-3-658-04973-7
  • Online ISBN 978-3-658-04974-4
  • Buy this book on publisher's site
Industry Sectors
Finance, Business & Banking