Time consistent monetary policy with endogenous price rigidity

DOI10.1016/J.JET.2007.06.009MaRDI QIDQ936637zbMATH OpenOpenAlexFDO

Authors Henry E. Siu

Publication date 19 August 2008

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

Copyright license Creative Commons Attribution-NonCommercial 4.0 International

Full work available at URL https://doi.org/10.21034/sr.390

zbMATH Keywords

multiple equilibriasticky pricestime consistencydiscretionMarkov equilibriumexpectation trapsstate dependent pricing

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Special types of economic equilibria (91B52)

Recommendations

• Expectations, credibility, and time-consistent monetary policy.
• Credible monetary policy in an infinite horizon model: Recursive approaches
• Monetary Discretion, Pricing Complementarity, and Dynamic Multiple Equilibria
• A COMPLEMENTARY NOTE ON THE ISSUE OF TIME INCONSISTENCY REVISITED AS AN EXTENDED GAME
• The Time Consistency of Optimal Monetary and Fiscal Policies

Cites work

• Coordinating Coordination Failures in Keynesian Models
• Expectation Traps and Monetary Policy
• Expectation traps and discretion
• Expectations, credibility, and time-consistent monetary policy.
• Monetary Discretion, Pricing Complementarity, and Dynamic Multiple Equilibria
• State-Dependent Pricing and the General Equilibrium Dynamics of Money and Output
• Sustainable monetary policies

Cited in

(6)

• Endogenous money or sticky prices? Comment on monetary non-neutrality and inflation dynamics
• Expectations, credibility, and time-consistent monetary policy.
• Discretionary monetary policy in the Calvo model
• Endogenously determined price rigidities
• The issue of time inconsistency revisited as an extended game
• Expectation traps in a New Keynesian open economy model

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