; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "How Severe is the Time-Inconsistency Problem in Monetary Policy?"; ; "jannelle.ruswick@mpls.frb.org"; "Chari, V. V.", "Christiano, Lawrence J.", "Albanesi, Stefania"; "Federal Reserve Bank of Minneapolis"; "This study analyzes two monetary economies, a cash-credit good model and a limited-participation model. In these models, monetary policy is made by a benevolent policymaker who cannot commit to future policies. The study defines and analyzes Markov equilibrium in these economies and shows that there is no time-inconsistency problem for a wide range of parameter values."^^; "2003 Summer"; "2019-12-13T19:50:10.928259283+00:00"^^; "https://doi.org/10.21034/qr.2732"; ; "Mon Dec 16 17:38:09 2019"; "Article"; "129", "10", "141"; "Quarterly review (Federal Reserve Bank of Minneapolis. Research Department)"; "Vol. 27, No. 3"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; """This study is reprinted, with the permission of the Cambridge University Press, from the book, _Advances in Economics and Econometrics: Theory and Applications_, Eighth World Congress of the Econometric Society, Volume 3, edited by Mathias Dewatripont, Lars Peter Hansen, and Stephen J. Turnovsky, pp. 123-50 (Chapter 4), Cambridge, U.K.: Cambridge University Press, 2003. © 2003 Cambridge University Press. The study was edited for publication in the _Federal Reserve Bank of Minneapolis Quarterly Review_. """^^; ; "Publication" . ; .