Add to ORKGIn many cases the optimal open-loop policy to influence agents who solve dynamic problems is time-inconsistent. We show how to construct a time-consistent open-loop policy rule. We also consider an additional restriction under which the time-consistent openloop policy is stationary. We use examples to illustrate the properties of these tax rules. Keywords: Time inconsistency, open-loop policies, stationarit
The paper addresses the Kydland and Prescott (1977) argument that the optimal policy in models with ...
Specifically, we are interested in the question of whether or not the supposed superiority of 'time ...
This paper proposes and characterises a new normative solution concept for Kydland and Prescott prob...
In many cases the optimal open-loop policy to influence agents who solve dynamic problems is time in...
In many cases the optimal open-loop policy to influence agents who solve dynamic problems is time-in...
This paper is concerned with the calculation of time consistent macroeconomic policies. We provide a...
The recent push for environmental regulation has invigorated the discussion of mechanism design and ...
This paper characterizes the time-consistency properties of the set of Pareto efficient (or second b...
We propose a new normative approach to designing institutional commitments in environments that are ...
In the standard neoclassical model with a representative agent, a benevolent planner who can commit ...
URL des Documents de travail : http://ces.univ-paris1.fr/cesdp/cesdp2015.htmlDocuments de travail du...
An optimal control problem is time-consistent if for any initial pair of time and state, whenever th...
The recent push for environmental regulation has invigorated the discussion of mechanism design and ...
This paper shows how to use optimal control theory to derive time-consistent optimal government poli...
This paper analyses the time consistency of open-loop equilibria, in the cases of Nash and Stackelbe...
The paper addresses the Kydland and Prescott (1977) argument that the optimal policy in models with ...
Specifically, we are interested in the question of whether or not the supposed superiority of 'time ...
This paper proposes and characterises a new normative solution concept for Kydland and Prescott prob...
In many cases the optimal open-loop policy to influence agents who solve dynamic problems is time in...
In many cases the optimal open-loop policy to influence agents who solve dynamic problems is time-in...
This paper is concerned with the calculation of time consistent macroeconomic policies. We provide a...
The recent push for environmental regulation has invigorated the discussion of mechanism design and ...
This paper characterizes the time-consistency properties of the set of Pareto efficient (or second b...
We propose a new normative approach to designing institutional commitments in environments that are ...
In the standard neoclassical model with a representative agent, a benevolent planner who can commit ...
URL des Documents de travail : http://ces.univ-paris1.fr/cesdp/cesdp2015.htmlDocuments de travail du...
An optimal control problem is time-consistent if for any initial pair of time and state, whenever th...
The recent push for environmental regulation has invigorated the discussion of mechanism design and ...
This paper shows how to use optimal control theory to derive time-consistent optimal government poli...
This paper analyses the time consistency of open-loop equilibria, in the cases of Nash and Stackelbe...
The paper addresses the Kydland and Prescott (1977) argument that the optimal policy in models with ...
Specifically, we are interested in the question of whether or not the supposed superiority of 'time ...
This paper proposes and characterises a new normative solution concept for Kydland and Prescott prob...