In this paper we examine the case of partial central bank transparency and the interaction between public debt management and the design of monetary institutions. In particular, we establish a relationship between central bank transparency and nominal debt and find that it depends on whether the...

This paper examines the effect of wage indexation on the optimal degree of central bank conservativeness in a dynamic economy. In particular, we find that when unemployment persists, wage indexation is inflationary as it lowers the will of the central banker to fight inflation. Furthermore, we...

The Rogoff proposition (Quarterly Journal of Economics, 100 (1985), pp. 1169-90) that it is socially optimal to delegate monetary policy to a central banker that is more inflation-averse than society has been widely accepted and implemented in practice. However, there is a literature that argues...

The increased electricity production from variable sources in the EU combined with the overall decline in demand in recent years, have raised concerns about the security of electricity supply, in general, and in particular about generation adequacy and flexibility, prompting some Member States...