A growing body of evidence supports the view that monetary policy actions communicate
information about the state of the economy to an imperfectly informed public. Therefore, it is …

The idea that monetary policy is principally about “managing expectations” has taken hold in
central banks around the world. Discussions of expectations management by central …

When private agents learn a new policy rule, an optimal simple Taylor rule for disinflation
differs substantially from that under full information. The central bank can reduce target …

How much information should a central bank (CB) have about (i) policy objectives and (ii)
operational shocks to the effect of monetary policy? We consider a version of the Barro …

We model transitional dynamics that emerge after the adoption of a new monetary policy
rule. We assume that private agents learn about the new policy via Bayesian updating, and …

In this paper, I use a Markov chain Monte Carlo algorithm to estimate a model of private‐
sector behavior that does not feature private‐sector knowledge of the monetary …

How transparent should a central bank be about (i) its objectives and (ii) its information on
how monetary policy maps into economic outcomes? We consider a version of the Barro …

Accounting for the uncertainty in real-time perceptions of the state of the economy is
believed to be critical for monetary policy analysis. We investigate this claim through the lens …

How should policy be optimally designed when a monetary authority faces a private sector
that is somewhat skeptical about policy announcements and which interprets economic data …

This dissertation contains three essays on Macroeconomics about the importance of
information and expectations in the aggregate economy. The first chapter studies empirically …