Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/93582 
Erscheinungsjahr: 
2013
Schriftenreihe/Nr.: 
UPSE Discussion Paper No. 2013-07
Verlag: 
University of the Philippines, School of Economics (UPSE), Quezon City
Zusammenfassung: 
This paper provides the algebra and a panel diagram to attempt to examine the so-called inflation- unemployment (or Phillips curve, or aggregate supply) example, the most popular example in the literature when introducing the concept of time inconsistency or dynamic inconsistency. The resulting panel diagram (along with the derivations presented in the appendices) is used to analyze the different possible outcomes, depending on the scenarios - rule or pre-commitment, cheating, and equilibrium - and find out whether there is indeed time inconsistency or dynamic inconsistency in the said example.
Schlagwörter: 
Philips curve
aggregate supply
time inconsistency
dynamic inconsistency
short-run optimal policy
long-run optimal policy
rational expectations
rules vs discretion
JEL: 
E31
E52
E61
Dokumentart: 
Working Paper

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