Research

Articles in Refereed Journals

Implementing the Commitment Solution via Discretionary Policy-Making, Macroeconomic Dynamics, 27(7), pp. 1866-1892, October 2023. Matlab code available here.

Committee Decision-Making under the Threat of Leaks (together with Sebastian Fehrler), Journal of Politics, 85(3), pp. 1107-1122, July 2023. JoP blog post here. Older version: IZA Discussion Paper No. 13746, September 2020.

Price Dispersion and the Costs of Inflation, Journal of Money, Credit and Banking, 54(2-3), pp. 459-491, 2022. An older working paper version can be downloaded here.

Discretionary Policy and Multiple Equilibria in a New Keynesian Model, Oxford Economic Papers, 73(1), pp. 423-445, January 2021. An older working paper version can be downloaded here.

Price Points and Price Dynamics (together with Michal Marencak), Journal of Monetary Economics, 115, November 2020. Working paper version (February, 2019) can be downloaded here. Appendix: here.

Forward Guidance Contracts (together with Hans Gersbach and Yulin Liu), Macroeconomic Dynamics, 23(8), pp. 3386-3423, December 2019.

Committee Design with Endogenous Participation, Games and Economic Behavior, 102, pp. 388-408, March 2017. 

On the Drawback of Large Committees, International Journal of Game Theory, 46(2), pp. 563-582, May 2017. A previous version was circulated under the title "On the Optimal Size of Committees of Experts".

Designing Monetary Policy Committees, Journal of Economic Dynamics and Control, 65, pp. 47-67, April 2016.

Inflation Forecast Contracts (together Hans Gersbach), Journal of Economic Dynamics and Control, 48, pp. 26-40, November 2014. 

Transparency in Monetary Policy, Signaling, and Heterogeneous Information, Macroeconomic Dynamics, 18(2), pp. 369-394, March 2014.

An Argument in Favor of Long Terms for Central Bankers, Economics Letters, 122(2), pp. 132-135, February 2014.

Tax Rules (together with Hans Gersbach and Stephan Imhof), Social Choice and Welfare, 41(1), pp. 19-42, June 2013. 

Should Central Banks Remain Silent about Their Private Information on Cost-Push Shocks?, Oxford Economic Papers, 64(4), pp. 593-615, October 2012.

Information Acquisition and Transparency in Committees (together with Hans Gersbach), International Journal of Game Theory, 41(2), pp. 427-453, May 2012. 

Sequential Aggregation of Verifiable Information, Journal of Public Economics, 95(11-12), pp. 1447-1454, December 2011.

Monetary Policy Inclinations (together with Hans Gersbach), Journal of Money, Credit, and Banking, 43(8), pp. 1707-1717, December 2011.

Reciprocity and Voting, Games and Economic Behavior, 67(2), pp. 467-480, November 2009.

Voting Transparency in a Monetary Union (together with Hans Gersbach), Journal of Money, Credit, and Banking, 41(5), pp. 831-853, August 2009.

Search, Unemployment, and Age; Journal of Economic Dynamics and Control, 33(6), pp. 1361-1378, June 2009.

Transparency of Central Bank Preferences, German Economic Review, 10(1), pp. 32-49, February 2009.

Committees and Reciprocity (together with Felix Mühe), Mathematical Social Sciences, 57(1), pp. 26-47, January 2009.

Committees, Sequential Voting and Transparency, Mathematical Social Sciences, 56(3), pp. 366-385, November 2008.

Should the Individual Voting Records of Central Bankers be Published? (together with Hans Gersbach), Social Choice and Welfare, 30(4), pp. 655-683, May 2008.

Fairness and Voting, Social Choice and Welfare, 28(4), pp. 591-605, June 2007.

Information Content of Wages and Monetary Policy (together with Hans Gersbach), Journal of Money, Credit, and Banking, 39(1), pp. 133-149, February 2007.

Signaling and Commitment: Monetary versus Inflation Targeting (together with Hans Gersbach), Macroeconomic Dynamics, 10(5), pp. 595-624, November 2006.

Voting Transparency, Conflicting Interests and the Appointment of Central Bankers (together with Hans Gersbach), Economics and Politics, 16(3), pp. 321-345, November 2004.

Transparency in Monetary Policy: A Survey, ifo Studien, 48(3), pp. 429-455, 2002.