Notes on Optimal Monetary Growth

Optimal Growth Using Fiscal and Monetary Policies

Institut International d’Economie Politique IIEP International Economic Policy Institute IEPI Institut International d’Economie Politique IIEP International Economic Policy Institute IEPI Institut International d’Economie Politique IIEP International Economic Policy Institute IEPI Institut International d’Economie Politique IIEP International Economic Policy Institute IEPI Institut Internationa...

Notes On Strategic Delegation in Monetary Unions

Lecture Notes on Optimal Control

Chapter on state constrained problems.

Notes on Optimal Debt Management

Consider the finance of an exogenous path of public expenditure, G(t), with taxes and public debt issues. In the absence of unexpected default, borrowing does not allow the government to escape taxes in a present-value sense. But the choices of how much to borrow and in what form affect the timing of tax collections and the ways in which these collections are contingent on economic outcomes. Th...

On Targeting Frameworks and Optimal Monetary Policy

Speed limit policy, a monetary policy strategy that focuses on stabilizing inflation and the change in the output gap, consistently delivers better welfare outcomes than flexible inflation targeting or flexible price level targeting in empirical New Keynesian models when policymakers lack the ability to commit to future policies. Even if the policymaker can commit under an inflation targeting s...