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Credible Monetary Policy in an Infinite Horizon Model: Recursive Approaches
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Credible Monetary Policy in an Infinite Horizon Model: Recursive Approaches (1998)Credible Monetary Policy in an Infinite H…Optimality of the Friedman rule in economies with distorting taxes (1996)Optimality of the Friedman ru…Optimal Fiscal Policy in a Business Cycle Model (1993)Optimal Fiscal Policy in a Bu…Toward a Theory of Discounted Repeated Games with Imperfect Monitoring (1990)Toward a Theory of Discounted…Sustainable Plans (1990)Sustainable PlansIncome fluctuation and asymmetric information: An example of a repeated principal-agent problem (1990)Income fluctuation and asymme…On the Theory of Infinitely Repeated Games with Discounting (1988)On the Theory of Infinitely R…On Repeated Moral Hazard with Discounting (1987)On Repeated Moral Hazard with…Contractual Arrangements for Intertemporal Trade (1987)Contractual Arrangements for …Optimal Taxation of Capital Income in General Equilibrium with Infinite Lives (1986)Optimal Taxation of Capital I…Redistributive taxation in a simple perfect foresight model (1985)Redistributive taxation in a …Speculative Hyperinflations in Maximizing Models: Can We Rule Them Out? (1983)Speculative Hyperinflations i…Optimal fiscal and monetary policy in an economy without capital (1983)Optimal fiscal and monetary p…Speculative Hyperinflations in Maximizing Models: Can We Rule Them Out? (1982)Speculative Hyperinflations i…Dynamic optimal taxation, rational expectations and optimal control (1980)Dynamic optimal taxation, rat…On the Time Consistency of Optimal Policy in a Monetary Economy (1978)On the Time Consistency of Op…Rules Rather than Discretion: The Inconsistency of Optimal Plans (1977)Rules Rather than Discretion:…Are collateral-constraint models ready for macroprudential policy design? (2022)Are collateral-constraint mod…Recursive Contracts (2019)Recursive ContractsCredible Forward Guidance (2019)Credible Forward GuidanceState Dependent Monetary Policy (2013)State Dependent Monetary Poli…Efficient Allocations in Dynamic Private Information Economies with Persistent Shocks: A First-Order Approach (2013)Efficient Allocations in Dyna…Efficient allocations with moral hazard and hidden borrowing and lending: A recursive formulation (2008)Efficient allocations with mo…On the Optimal Choice of a Monetary Policy Instrument (2007)On the Optimal Choice of a Mo…The Advantage of Transparency in Monetary Policy Instruments (2006)The Advantage of Transparency…The optimal degree of monetary policy discretion (2003)The optimal degree of monetar…Dollarization of Liabilities, Net Worth Effects, and Optimal Monetary Policy (2002)Dollarization of Liabilities,…Dollarization of Liabilities, Net Worth Effects, and Optimal Monetary Policy ∗ (2002)Dollarization of Liabilities,…The Advantage of Transparent Instruments of Monetary Policy (2001)The Advantage of Transparent …The Advantage of Transparent Instruments of Monetary Policy (2001)The Advantage of Transparent …On the Optimality of Transparent Monetary Policy (2001)On the Optimality of Transpar…Moral Hazard and Observability (1979)The First-Order Approach to Principal-Agent Problems (1985)Optimal cartel equilibria with imperfect monitoring (1986)Implications of Efficient Risk Sharing without Commitment (1996)Optimal Unemployment Insurance (1997)Optimal Lending Contracts and Firm Dynamics (2004)Reexamination of the perfectness concept for equilibrium points in extensive games (1975)Social Norms and Economic Theory (1989)Measuring Trust* (2000)A Behavioral Approach to the Rational Choice Theory of Collective Action Presidential Address, American political Science Association, 1997 (2010)An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money (1958)Myopia and Inconsistency in Dynamic Utility Maximization (1973)A Guide to Public Sector Debt and Deficits (1985)Servicing the Public Debt: The Role of Expectations* *I have greatly benefited from comments received at Johns Hopkins University, Georgetown University, the Macro Lunch Group of the University of Pennsylvania, MIT, and the Research Department of the International Monetary Fund. I am particularly indebted to Matt Canzoneri, Sara Guerschanik-Calvo, Joseph Harrington, Jr, Elhanan Helpman, Nissan Leviatan, Maury Obstfeld, Assaf Razin, Sweder van Wijnbergen and two anonymous referees. The research on this paper was partly done while I was a visiting scholar at the Research Department of the Internationed Monetary Fund, and it was partially funded by the National Science Foundation. However, any opinions expressed are entirely my own and not those of any of the above institutions. This paper has already been published in the The American Economic Review, 78, 4, September 1988, pp. 647–661. (1989)A Toolkit for Analysing Nonlinear Dynamic Stochastic Models Easily (2001)Myopia and Inconsistency in Dynamic Utility Maximization (1955)A Positive Theory of Fiscal Deficits and Government Debt (1990)Monetary Theory and Policy (1999)A Unified Framework for Monetary Theory and Policy Analysis (2005)A Contribution to the Theory of Economic Growth (1956)Optimal Taxation in Models of Endogenous Growth (1993)Taxing Capital? Not a Bad Idea After All! (2007)The Case for a Progressive Tax: From Basic Research to Policy Recommendation (2011)Stationary Ordinal Utility and Impatience (1960)Are Government Bonds Net Wealth? (1974)On the Determination of the Public Debt (1979)SUPPLY-SIDE ECONOMICS: AN ANALYTICAL REVIEW (1990)Fiscal policy and growth: evidence from OECD countries (1999)The Architecture of Government (2007)The Adjustment of Consumption to Changing Expectations About Future Income (1981)Self-Enforcing Wage Contracts (1988)Communication, commitment, and growth (1992)Efficient Allocations with Hidden Income and Hidden Storage (2001)Dynamic Optimal Taxation with Private Information (2006)Sequential Equilibria (1982)The Folk Theorem in Repeated Games with Discounting or with Incomplete Information (1986)The Folk Theorem with Imperfect Public Information (1994)Relational Incentive Contracts (2003)Repeated Games and Reputations (2006)Rational Expectations and the Theory of Price Movements (1961)Rational Expectations, the Real Rate of Interest, and the Natural Rate of Unemployment (1973)Equilibria under ‘active’ and ‘passive’ monetary and fiscal policies (1991)Decision Making in Political Systems: Veto Players in Presidentialism, Parliamentarism, Multicameralism and Multipartyism (1995)Veto Players. How Political Institutions Work (2003)On the Optimal Taxation of Capital Income (1997)Barriers to riches (2000)
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References

  • 1977Rules Rather than Discretion: The Inconsistency of Optimal Plans7,896 cited
  • 1983Optimal fiscal and monetary policy in an economy without capital1,877 cited
  • 1986Optimal Taxation of Capital Income in General Equilibrium with Infinite Lives1,594 cited
  • 1985Redistributive taxation in a simple perfect foresight model1,346 cited
  • 1988On the Theory of Infinitely Repeated Games with Discounting1,259 cited
  • 1990Toward a Theory of Discounted Repeated Games with Imperfect Monitoring1,207 cited
  • 1978On the Time Consistency of Optimal Policy in a Monetary Economy807 cited
  • 1987On Repeated Moral Hazard with Discounting641 cited
  • 1993Optimal Fiscal Policy in a Business Cycle Model610 cited
  • 1990Income fluctuation and asymmetric information: An example of a repeated principal-agent problem363 cited
  • 1980Dynamic optimal taxation, rational expectations and optimal control347 cited
  • 1990Sustainable Plans326 cited
  • 1987Contractual Arrangements for Intertemporal Trade304 cited
  • 1982Speculative Hyperinflations in Maximizing Models: Can We Rule Them Out?253 cited
  • 1996Optimality of the Friedman rule in economies with distorting taxes241 cited

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  • 1983Speculative Hyperinflations in Maximizing Models: Can We Rule Them Out?240 cited
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