Time Consistency of Fiscal and Monetary Policy: A Solution

DOI10.1111/J.1468-0262.2006.00653.XzbMath1112.91053OpenAlexW3124365663MaRDI QIDQ5393884

Torsten Persson, Mats Persson, Lars E. O. Svensson

Publication date: 24 October 2006

Published in: Econometrica (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1111/j.1468-0262.2006.00653.x

zbMATH Keywords

time consistencyRamsey policysurprise inflation

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Economic growth models (91B62)

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On the relevance of floating exchange rate policies ⋮ Capital taxation and government debt policy with public discounting ⋮ Sustaining Ramsey plans with one-period bonds ⋮ Optimal fiscal and monetary policy when money is essential ⋮ Fiscal policy under loose commitment ⋮ Fiscal-monetary interactions: the effect of fiscal restraint and public monitoring on central bank credibility ⋮ The procyclicality of inflation-linked debt ⋮ Time Consistency, Subgame Perfectness, Solution Concepts and Information Patterns in Dynamic Models of Stabilization Policies

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