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Working Paper
Presidential popularity, presidential policies
Journal Article
Is there a cost to having an independent central bank?
Journal Article
Announcements and the role of policy guidance
By providing guidance about future economic developments, central banks can affect private sector expectations and decisions. This can improve welfare by reducing private sector forecast errors, but it can also magnify the impact of noise in central bank forecasts. I employ a model of heterogeneous information to compare outcomes under opaque and transparent monetary policies. While better central bank information is always welfare improving, more central bank information may not be.
Journal Article
A primer on monetary policy. Part 1, goals and instruments