Time-consistent policies

DOI10.1016/S0022-0531(03)00067-XMaRDI QIDQ1414622zbMATH OpenOpenAlexFDO

Authors In-Ho Lee, Larry Karp

Publication date 4 December 2003

Published in Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/s0022-0531(03)00067-x

zbMATH Keywords

Open-loop policiesStationarityTime inconsistency

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

Recommendations

• How Should Control Theory Be Used to Calculate a Time-Consistent Government Policy?
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Cites work

• On the Stackelberg strategy in nonzero-sum games
• On time inconsistency: A technical issue in Stackelberg differential games
• Optimal Taxation of Capital Income in General Equilibrium with Infinite Lives

Cited in

(17)

• Open loop time consistency for linear rational expectations models
• A note on timeless perspective policy design
• The golden rule when preferences are time inconsistent
• A new class of problems in the calculus of variations
• On time-consistent policy rules for heterogeneous discounting programs
• A stochastic linear-quadratic differential game with time-inconsistency
• Characterization of feedback Nash equilibria for multi-channel systems via a set of non-fragile stabilizing state-feedback solutions and dissipativity inequalities
• Dynamic Inconsistency, Rational Expectations, and Optimal Government Policy
• How Should Control Theory Be Used to Calculate a Time-Consistent Government Policy?
• Examples in Dynamic Optimal Taxation
• Linear-quadratic optimal control problems for mean-field stochastic differential equations -- time-consistent solutions
• Exploration for nonrenewable resources in a dynamic oligopoly: an Arrovian result
• The welfare cost of one-size-fits-all patent protection
• Time-consistent control in nonlinear models
• Taxes versus quantities for a stock pollutant with endogenous abatement costs and asymmetric information
• Time consistent commitments of intermediate duration
• Time consistent fiscal policies in a Ramsey economy

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