to larger bubbles. This comment shows that a central bank that wants to dampen bubbles can always do so by raising …

central banks. First, we show that the forecasting performance of such models compares well with a-theoretical vector …

Excessive inflation is usually attributed to the lack of central bank's credibility. In this context, most of the … literature considers transparency a means to establish central bank's credibility. The contribution of this paper is twofold …. First, it shows that, even in the absence of inflationary bias, a credible central bank may find it optimal to implement an …

The paper models the interaction between risk taking in the financial sector and central bank policy. It shows that in … the absence of central bank intervention, the incentive of financial intermediaries to free ride on liquidity in good …

active central bank, the mechanisms at work are completely incompatible with a traditional or Post-Keynesian understanding of …