In this paper, we study Ramsey-optimal fiscal and monetary policy in a mediumscale model of the U.S. business cycle. The model features a rich array of real and nominal rigidities that have been identified in the recent empirical literature as salient in explaining observed aggregate...

We examine whether it is socially beneficial for the individual voting records of central bank council members to be published when the general public is unsure about central bankers' efficiency and central bankers are aiming for re-election. We show that publication is initially harmful since...

This paper examines whether it is socially desirable for the individual voting records of central bank council members to be published when central bankers' preferences differ. We show that the misrepresentation of their preferences is not advantageous for central bankers although central...