Macroeconomic Policy, Credibility and Politics

Government Budget Inflation Equilibrium Surprise Capital levy Constraints Government Budget Constraint Subgame Perfect Equilibrium Constraint Infinite Horizon Monetary Incentive Wage Aggregate History Credibility Constraints Equilibrium Inflation Concavity Index Government Policy Rule Government Optimization Problem Incomplete Information Model Discretionary Equilibria Equilibrium Policy Lump Sum Tax Optimal Monetary Policy Rule Policy Surprise Incentive Constraint Surprise Inflation Incentive Compatibility Condition Wage Setters Supply shock Monetary Policy Model Pooling Equilibrium Reputational Equilibria Unexpected Inflation