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On Credible Monetary Policy and Private Government Information

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  • Sleet, Christopher

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  • Sleet, Christopher, 2001. "On Credible Monetary Policy and Private Government Information," Journal of Economic Theory, Elsevier, vol. 99(1-2), pages 338-376, July.
    • Handle: RePEc:eee:jetheo:v:99:y:2001:i:1-2:p:338-376
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    1. Christopher Phelan & Robert M. Townsend, 1991. "Computing Multi-Period, Information-Constrained Optima," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 58(5), pages 853-881.
    2. Canzoneri, Matthew B, 1985. "Monetary Policy Games and the Role of Private Information," American Economic Review, American Economic Association, vol. 75(5), pages 1056-1070, December.
    3. V. V. Chari & Patrick J. Kehoe, 1993. "Sustainable Plans and Mutual Default," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 60(1), pages 175-195.
    4. Dilip Abreu & David Pearce & Ennio Stacchetti, 2010. "Towards a Theory of Discounted Repeated Games with Imperfect Monitoring," Levine's Working Paper Archive 199, David K. Levine.
    5. Andrew Atkeson & Robert E. Lucas, 1992. "On Efficient Distribution With Private Information," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 59(3), pages 427-453.
    6. Atkeson, Andrew, 1991. "International Lending with Moral Hazard and Risk of Repudiation," Econometrica, Econometric Society, vol. 59(4), pages 1069-1089, July.
    7. Drew Fudenberg & David Levine & Eric Maskin, 2008. "The Folk Theorem With Imperfect Public Information," World Scientific Book Chapters, in: Drew Fudenberg & David K Levine (ed.), A Long-Run Collaboration On Long-Run Games, chapter 12, pages 231-273, World Scientific Publishing Co. Pte. Ltd..
    8. Stokey, Nancy L., 1991. "Credible public policy," Journal of Economic Dynamics and Control, Elsevier, vol. 15(4), pages 627-656, October.
    9. Ireland, Peter N, 1996. "The Role of Countercyclical Monetary Policy," Journal of Political Economy, University of Chicago Press, vol. 104(4), pages 704-723, August.
    10. Kydland, Finn E. & Prescott, Edward C., 1980. "Dynamic optimal taxation, rational expectations and optimal control," Journal of Economic Dynamics and Control, Elsevier, vol. 2(1), pages 79-91, May.
    11. Cho, In-Koo & Matsui, Akihiko, 1995. "Induction and the Ramsey policy," Journal of Economic Dynamics and Control, Elsevier, vol. 19(5-7), pages 1113-1140.
    12. Abreu, Dilip & Pearce, David & Stacchetti, Ennio, 1990. "Toward a Theory of Discounted Repeated Games with Imperfect Monitoring," Econometrica, Econometric Society, vol. 58(5), pages 1041-1063, September.
    13. Barro, Robert J & Gordon, David B, 1983. "A Positive Theory of Monetary Policy in a Natural Rate Model," Journal of Political Economy, University of Chicago Press, vol. 91(4), pages 589-610, August.
    14. Abreu, Dilip, 1988. "On the Theory of Infinitely Repeated Games with Discounting," Econometrica, Econometric Society, vol. 56(2), pages 383-396, March.
    15. Chari, V V & Kehoe, Patrick J, 1990. "Sustainable Plans," Journal of Political Economy, University of Chicago Press, vol. 98(4), pages 783-802, August.
    16. David H. Romer & Christina D. Romer, 2000. "Federal Reserve Information and the Behavior of Interest Rates," American Economic Review, American Economic Association, vol. 90(3), pages 429-457, June.
    17. Chang, Roberto, 1998. "Credible Monetary Policy in an Infinite Horizon Model: Recursive Approaches," Journal of Economic Theory, Elsevier, vol. 81(2), pages 431-461, August.
    18. Kydland, Finn E & Prescott, Edward C, 1977. "Rules Rather Than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 473-491, June.
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    Cited by:

    1. Waki, Yuichiro & Dennis, Richard & Fujiwara, Ippei, 2018. "The optimal degree of monetary-discretion in a New Keynesian model with private information," Theoretical Economics, Econometric Society, vol. 13(3), September.
    2. Kurozumi, Takushi, 2008. "Optimal sustainable monetary policy," Journal of Monetary Economics, Elsevier, vol. 55(7), pages 1277-1289, October.
    3. B. Onur Tas, 2012. "Why does the Federal Reserve Forecast Inflation Better than Everyone Else?," Working Papers 1207, TOBB University of Economics and Technology, Department of Economics.
    4. Waki, Yuichiro & Dennis, Richard & Fujiwara, Ippei, 2015. "The Optimal Degree of Monetary-Discretion in a New Keynesian Model with Private Information," 2007 Annual Meeting, July 29-August 1, 2007, Portland, Oregon TN 2015-66, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    5. Ales, Laurence & Maziero, Pricila & Yared, Pierre, 2014. "A theory of political and economic cycles," Journal of Economic Theory, Elsevier, vol. 153(C), pages 224-251.
    6. Susan Athey & Andrew Atkeson & Patrick J. Kehoe, 2005. "The Optimal Degree of Discretion in Monetary Policy," Econometrica, Econometric Society, vol. 73(5), pages 1431-1475, September.
    7. Debortoli, Davide & Maih, Junior & Nunes, Ricardo, 2014. "Loose Commitment In Medium-Scale Macroeconomic Models: Theory And Applications," Macroeconomic Dynamics, Cambridge University Press, vol. 18(1), pages 175-198, January.
    8. Sleet, Christopher & Yeltekin, Sevin, 2007. "Recursive monetary policy games with incomplete information," Journal of Economic Dynamics and Control, Elsevier, vol. 31(5), pages 1557-1583, May.
    9. Christopher Sleet, 2004. "Optimal Taxation with Private Government Information," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 71(4), pages 1217-1239.
    10. Marina Halac & Pierre Yared, 2022. "Instrument-Based versus Target-Based Rules [“The Economics of Labor Coercion”]," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 89(1), pages 312-345.
    11. Facundo Albornoz & Joan-Maria Esteban & Paolo Vanin, 2009. "Government Information Transparency," Working Papers 392, Barcelona School of Economics.
    12. Anderson Schneider & Facundo Piguillem, 2009. "Heterogeneous Beliefs and Optimal Taxation," 2009 Meeting Papers 826, Society for Economic Dynamics.
    13. Juan Passadore & Juan Xandri, 2019. "Robust Predictions in Dynamic Policy Games," 2019 Meeting Papers 1345, Society for Economic Dynamics.
    14. Tas, Bedri Kamil Onur, 2011. "An explanation for the price puzzle: Asymmetric information and expectation dynamics," Journal of Macroeconomics, Elsevier, vol. 33(2), pages 259-275, June.
    15. Clayton, Christopher & Schaab, Andreas, 2022. "A Theory of Dynamic Inflation Targets," TSE Working Papers 22-1389, Toulouse School of Economics (TSE).
    16. Sleet, Christopher & Yeltekin, Sevin, 2006. "Optimal taxation with endogenously incomplete debt markets," Journal of Economic Theory, Elsevier, vol. 127(1), pages 36-73, March.
    17. Luis Felipe Céspedes & Roberto Chang & Andrés Velasco, 2002. "Dollarization of Liabilities, Net Worth Effects, and Optimal Monetary Policy," NBER Chapters, in: Preventing Currency Crises in Emerging Markets, pages 559-600, National Bureau of Economic Research, Inc.
    18. Hao Zhang, 2012. "Solving an Infinite Horizon Adverse Selection Model Through Finite Policy Graphs," Operations Research, INFORMS, vol. 60(4), pages 850-864, August.

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