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Svensson, Lars E. O. - In: Journal of monetary economics 90 (2017), pp. 193-213

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Kiley, Michael T. - 1997

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Optimal fiscal and monetary policy in a medium-scale macroeconomic model

Schmitt-Grohé, Stephanie (contributor); … - 2006

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...