-consuming legislative process and an abolition will thus be previously expected. Therefore, a currency board solves the time inconsistency … shocks makes the abolition more likely. Currency boards are more credible than standard pegs if the time inconsistency …

We consider a simple dynamic model of environmental taxation that exhibits time inconsistency. There are two categories …

Does consumer behavior exhibit time inconsistency? This is an essential, yet difficult question to answer. This … phenomena in the experiment. The two puzzling phenomena seem to suggest time inconsistency in consumer behavior.First, more …

specifies the highest allowable inflation rate. The more severe the time inconsistency problem, the more tightly the cap … monetary authority discretion to react to its private information against society’s need to guard against the time … inconsistency problem arising from the temptation to stimulate the economy with unexpected inflation. Although this dynamic …

specifies the highest allowable inflation rate. The more severe the time inconsistency problem, the more tightly the cap … monetary authority discretion to react to its private information against society’s need to guard against the time … inconsistency problem arising from the temptation to stimulate the economy with unexpected inflation. Although this dynamic …

We consider a simple dynamic model of environmental taxation that exhibits time inconsistency. There are two categories …