I study how the general and specific details of a micro founded monetary framework affect the determination of policy when the government has limited commitment. The conduct of policy depends on the interaction between the incentive to smooth distortions intertemporally and a time-consistency...

Presented at Indiana University.

Presented at New Perspectives on Monetary Policy Design. Sponsored by the Bank of Canada and the Centre De Recerca en Economia Internacional. Barcelona, Spain.

Presented at the 33rd Annual Economic Policy Conference "Projecting Potential Growth: Issues and Measurement," sponsored by the Federal Reserve Bank of St. Louis.