Browsing by Subject "time consistency"

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Browsing by Subject "time consistency"

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    Title: Nominal Debt as a Burden on Monetary Policy  Author(s): DIAZ-GIMENEZ, Javier; GIOVANNETTI, Giorgia; MARIMON, Ramon; TELES, Pedro Date: 2007 Type of Publication: Working Paper Series/Report no.: EUI MWP Abstract: We characterize the optimal sequential choice of monetary policy in economies with either nominal or indexed debt. In a model where nominal debt is the only source of time inconsistency, the Markov-perfect equilibrium ...
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    Title: Nominal Debt as a Burden on Monetary Policy  Author(s): DIAZ-GIMENEZ, Javier; GIOVANNETTI, Giorgia; MARIMON, Ramon; TELES, Pedro Date: 2007 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: We characterize the optimal sequential choice of monetary policy in economies with either nominal or indexed debt. In a model where nominal debt is the only source of time inconsistency, the Markov-perfect equilibrium ...