Barro-Gordon revisited: Reputational equilibria with inferential expectations

Timo Henckel (), Gordon Menzies, Nick Prokhovnik and Daniel Zizzo

CAMA Working Papers from Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University

Abstract: We incorporate inferential expectations into the Barro-Gordon model (1983a) of time inconsistency and consider reputational equilibria. The range of sustainable equilibria shrinks as the private sector becomes more belief-conservative.

JEL-codes: E52 E61 (search for similar items in EconPapers)
Pages: 10 pages
Date: 2010-10
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Related works:
Journal Article: Barro-Gordon revisited: Reputational equilibria with inferential expectations (2011)
Working Paper: Barro-Gordon Revisited: Reputational Equilibria with Inferential Expectations (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:een:camaaa:2010-29

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