stylized OLG model of inflation the central bank (CB) can set money supply in response to the current price. The CB has perfect …

In this paper I study the effect of imperfect central bank commitment on inflationary outcomes. I present a model in …

treasury (central bank). We restrict the amount of seigniorage collected to be non-negative, and also require that the …, should the central bank be asked to bear at least some responsibility for revenue generation? Alternatively, can we find …

of the central bank to be the lender of last resort in the banking system. In this article, I argue that the ECB should …

Central-bank collateral policy governs the convertibility of assets into central-bank money provided directly by the … central bank. Focusing on government bonds, we develop clean identification of variation in such convertibility by exploiting … maturities. Our findings imply that central-bank money is priced in the market and that a central bank can move and shape the …

argued that the central bank can influence the long-term interest rate on government bonds and the shape of the yield curve … about the future reinforce the effects of the short-term interest rate and the central bank's monetary policy actions on the …

The European Central Bank's asset purchase programs, while intended to stabilize the economy, may have unintended side …