Time inconsistency and the long-run effects of inflation
Karl Boulware,
Robert Reed () and
Ejindu Ume
Economics Letters, 2013, vol. 120, issue 2, 267-270
Abstract:
Recent work by Laibson (1997) identifies that individuals’ time discount factors evolve over time. This leads to a time-inconsistency problem in which savings are distorted. This paper studies the long-run effects of inflation in the presence of a time-inconsistency problem.
Keywords: Inflation; Hyperbolic discounting; Time inconsistency (search for similar items in EconPapers)
JEL-codes: E21 E41 E52 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (3)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:120:y:2013:i:2:p:267-270
DOI: 10.1016/j.econlet.2013.04.047
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