Time-Consistent Public Policy

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How researchers see this paper

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Monetary Conservatism and Fiscal Policy (2008, methodology): “refinement used in the applied dynamic games literature, e.g., Klein et al. (2006) .”
Optimal Time-Consistent Macroprudential Policy (2017, methodology): “Following Klein, Quadrini, and Rios-Rull (2007) and Klein, Krusell, and Rios-Rull (2008), we focus on Markov stationary policy rules that are expressed as functions of the payoff-relevant state variables (b, s).”
Mandatory versus Discretionary Spending: The Status Quo Effect (2014, background): “3), the first order necessary conditions for (g′, xH , x ′ L) to be a a solution to (24) are λ1i ≥ 0, λ2i ≥ 0, g′ ≥ 0, xH ≥ 0, xL ≥ 0, and 1− λ1i ≤ 0, [1− λ1i]xi = 0, (25)”
Optimal Food Price Stabilization in a Small Open Developing Country (2015, unknown): “Discretionary equilibria are known to be difficult to characterize since they involve functional equations, often called generalized Euler equations (Klein et al., 2008, Ambler and Pelgrin, 2010).”