Purpose: The paper includes characterizing Ramsey policy in a cash-in-advance monetary model, under flexible and sticky prices, and with different fiscal instruments. Design/methodology/approach: The paper analytically and numerically characterizes the dynamic properties of Ramsey allocations....

This article analytically and quantitatively studies optimal monetary policy, under flexible- and sticky- prices, and sticky nominal wages in canonical matching model of the labor market with a working capital channel. A money demand by firms is motivated by the facts that in advanced economies...

This paper studies the joint determination of optimal fiscal and unconventional and conventional monetary policy in a medium-scale macroeconomic model with financial intermediaries. An agency problem between borrowers and lenders makes financial frictions endogenous and makes banks facing...

This paper, analytically and quantitatively, studies the joint determination of optimal carbon taxation and distortionary fiscal policy in DSGE models. We question a central result of the existing environmental economics literature that the optimal carbon tax in the presence of distortionary...