7 citations · 12 across the 4 of their papers we have counts for
4 papers · 1 filter
Policy Maker's Credibility with Predetermined Instruments for Forward-Looking Targets
Jean-Bernard Chatelain, Kirsten Ralf
The aim of the present paper is to provide criteria for a central bank of how to choose among different monetary-policy rules when caring about a number of policy targets such as t…
Imperfect Credibility versus No Credibility of Optimal Monetary Policy
Jean-Bernard Chatelain, Kirsten Ralf
A minimal central bank credibility, with a non-zero probability of not renegning his commitment ("quasi-commitment"), is a necessary condition for anchoring inflation expectations…
Ramsey Optimal Policy versus Multiple Equilibria with Fiscal and Monetary Interactions
Jean-Bernard Chatelain, Kirsten Ralf
We consider a frictionless constant endowment economy based on Leeper (1991). In this economy, it is shown that, under an ad-hoc monetary rule and an ad-hoc fiscal rule, there are…
Publish and Perish: Creative Destruction and Macroeconomic Theory
Jean-Bernard Chatelain, Kirsten Ralf
A number of macroeconomic theories, very popular in the 1980s, seem to have completely disappeared and been replaced by the dynamic stochastic general equilibrium (DSGE) approach.…