We analyze the implications of the time inconsistency problem for the Turkish monetary policy in the last two decades. After deriving the restrictions that the Barro and Gordon model imposes on a time series model for inflation and output, we show that the time inconsistency problem can explain...

This paper discusses the two-way interaction between policy and academic enquiry regarding rules for monetary policy. The emerging consensus on monetary policy is described; in that context, some of the features of the current UK system are outlined which seem particularly important. From a...

The paper exploits a simulation environment and its output indicators to compare the performance of "ex-ante" policy instruments across housing and social welfare domains. We create a progressive score to contrast six single and mixed policy instruments against a no-policy baseline. The multiple...