00000caa a22000003i 4500 UP-1685594773862409025 Buklod 20210429152203.0 m | | ta 210429s2016 xx a r |||| u|eng d (iLib)UPBAG-00039956705 BAG rda eng ARTICLE-3304 Natividad-Carlos, Fidelina B. author. "Time inconsistency" the Phillips curve example, an analysis for intermediate macroeconomics Fidelina B. Natividad-Carlos. 2016. pages [97]-126 illustrations 25 cm text rdacontent unmediated rdamedia volume rdacarrier Title was 'Philippine Review of Business and Economics' until 1979. Title changed to 'Philippine Review of Economics and Business' from 1980-2000, and again changed to 'Philippine Review of Economics' since 2001. Includes bibliographical references (page 116). 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. Macroeconomics. Phillip's curve. Rational expectations (Economic theory). The Philippine Review of Business and Economics Vol. LIII, No. 1 (June 2016), p. [97]-126. Request full-text access via UPB University Library through https://forms.gle/KZjBv7aRtY6jiL5E9 (viewed 29 April 2021) UPBAG UPBAG-MAIN ARTICLE-3304 Analytics