August 27, 2020
March 6, 2020
Under the microscopeEvaluating our approach to monetary policy
The Power of Helicopter Money Revisited: A New Keynesian PerspectiveWe analyze money financing of fiscal transfers (helicopter money) in two simple New Keynesian models: a “textbook” model in which all money is non-interest-bearing (e.g., all money is currency), and a more realistic model with interest-bearing reserves.
Social Learning and Monetary Policy at the Effective Lower BoundThis research develops a model in which the economy is directly influenced by how pessimistic or optimistic economic agents are about the future. The agents may hold different views and update them as new economic data become available.