Solution Concept for Intergenerational Conflict: the Role of Intergenerational Bargaining [PDF]
This paper specifically examines intergenerational conflict and analyzes an overlapping generations model of public goods provision from the viewpoint of time-consistency.
Yusuke Kinai
core
Electoral Uncertainty and the Volatility of International Capital Flows [PDF]
I study a small open economy in which elections affect and are affected by capital inflows. Two candidates, one favoring workers and another favoring entrepreneurs, run for office; the winner chooses taxes, which affect investment returns.
Roberto Chang
core
Optimal Fiscal Policy and the (Lack of) Time Inconsistency Problem [PDF]
Time-consistency, Markov Equilibrium, Public ...
Jorge Soares +2 more
core
Optimality, rational expectations and time inconsistency applied to inflation targeting strategy [PDF]
The purpose of this paper is to analyse the characteristics of an inflation targeting strategy, using the Barro-Gordon model specific tools. This paper uses the initial Barro-Gordon concepts of inflationary social costs and benefits, adding a new ...
Marinas, Marius, Zoican, Marius Andrei
core +1 more source
"A Post Keynesian Perspective on the Rise of Central Bank Independence: A Dubious Success Story in Monetary Economics" [PDF]
This paper critically assesses the rise of central bank independence (CBI) as an apparent success story in modern monetary economics. As to the observed rise in CBI since the late 1980s, we single out the role of peculiar German traditions in spreading ...
Jorg Bibow
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Information processing with recursive utility: some intriguing results [PDF]
We study information processing in a simple endowment economy where the mean consumption growth rate are governed by a hidden state variable and agents have recursive preferences.
Frode Brevik, Stefano d'Addona
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Time-inconsistent contract theory
This paper investigates the moral hazard problem in finite horizon with both continuous and lump-sum payments, involving a time-inconsistent sophisticated agent and a standard utility maximizer principal: Building upon the so-called dynamic programming approach in Cvitanić et al. (2018) and the recently available results in Hernández and Possamaï (2023)
Hernández, Camilo +1 more
openaire +1 more source
Time Consistency and Free-Riding in a Monetary Union [PDF]
We analyze the setting of monetary and nonmonetary policies in monetary unions. We show that in these unions a time inconsistency problem in monetary policy leads to a novel type of free- rider problem in the setting of nonmonetary policies, such as ...
Patrick J. Kehoe, V. V. Chari
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Economic reforms and political constraints: on the time inconsistency of gradual sequencing. [PDF]
This paper presents a model portraying a country in a political deadlock about reform proposals that hurt strongly organized interest groups. We show that, under sorne circumstances (no ability to precommit, veto power by interest groups), only far ...
Martinelli, César, Tommasi, Mariano
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Effectiveness of non-pharmacological interventions for fatigue in long term conditions: systematic review and network meta-analysis. [PDF]
BMJ MedLeaviss J +17 more
europepmc +1 more source