Damjanovic, Tatiana; Damjanovic, Vladislav; Nolan, Charles - Centre for Dynamic Macroeconomic Analysis, University … - 2006
20, E32, F32, F41.
Keywords: Time consistency, unconditional expectation, timeless perspective,
optimal policy.
1 … for solving for optimal policy,
which he has labelled a "timeless perspective for optimal policy" (TP-policy).
However … that re�ects these initial conditions; the timeless perspective o�ers
1Some further examples may be useful. In a forward …