What is the time-inconsistency problem, and what role does it play in the debate between advocates of

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What is the time-inconsistency problem, and what role does it play in the debate between advocates of discretion and advocates of rules in policy making?

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Macroeconomics Policy And Practice

ISBN: 978-0133424317

2nd Edition

Authors: Frederic Mishkin

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Question Posted: Feb 20, 2024 04:00 AM

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What is the time-inconsistency problem, and what role does it play in the debate between advocates of

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The timeinconsistency problem arises when a policy maker initially intending to follow a certain course of action finds it optimal to deviate from tha...View the full answer

Macroeconomics Policy And Practice

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