Navegação por Assunto "Rules versus Discretion"
Resultados 1-1 de 1
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Time inconsistency in monetary policy : a discussion of solutions
(2021) [Trabalho de conclusão de graduação]Kydland and Prescott (1977) demonstrate that the inability of a discretionary policymaker to commit to a future plan of action may lead to a suboptimal result. A promise to follow a better outcome is time-inconsistent: the ...