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- W2168180490 abstract "Cellini and Lambertini endogenize through a timing game the moves of the central bank and the private sector in a model of monetary policy la Barro and Gordon. They find a multiplicity of equilibria, as the two Stackelberg outcomes emerge as the solutions of the timing game, with different inflation levels. By using the risk-dominance criterion to select the equilibrium we prove that there is a discontinuity in the inflation bias, depending on the inflation aversion of the private sector." @default.
- W2168180490 created "2016-06-24" @default.
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- W2168180490 date "2011-12-01" @default.
- W2168180490 modified "2023-09-25" @default.
- W2168180490 title "A COMPLEMENTARY NOTE ON THE ISSUE OF TIME INCONSISTENCY REVISITED AS AN EXTENDED GAME" @default.
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- W2168180490 doi "https://doi.org/10.1142/s0219198911003106" @default.
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