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Rules Rather Than Discretion: The Inconsistency of Optimal Plans

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  • Kydland, Finn E
  • Prescott, Edward C

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  • 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.
  • Handle: RePEc:ucp:jpolec:v:85:y:1977:i:3:p:473-91
    DOI: 10.1086/260580
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