"Time inconsistency" the Phillips curve example, an analysis for intermediate macroeconomics

"Time inconsistency" the Phillips curve example, an analysis for intermediate macroeconomics

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.&q...

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Bibliographic Details
Published in:The Philippine Review of Business and Economics Vol. LIII, No. 1 (June 2016), p. [97]-126.
Main Author: Natividad-Carlos, Fidelina B. (Author)
Format: Analytics
Language:English
Published: 2016.
Subjects:
Macroeconomics.
Phillip's curve.
Rational expectations (Economic theory).
Online Access:https://forms.gle/KZjBv7aRtY6jiL5E9