We determine optimal monetary policy under commitment in a forwardlooking New Keynesian model when nominal interest …

optimal contracts with and without commitment and derive an exclusion restriction that is useful to identify the relevant … commitment scenario. The empirical analysis takes advantage of a data set from Spanish soccer player contracts. Our test rejects … the commitment hypothesis, which entails the acceptance of the existence of contractual incompleteness in the data. We …

macroeconomic model of commitment and credibility. As the dependent variable, we calculate a post-reform inflation rate. The … exogenous variables are the degree of legal commitment and the constraining influence of institutions. The paper allows for the … conclusion that monetary commitment, the consideration of institutional constraints and abstinence from the money press are …

consistent with a model of limited commitment in which a shock to household resources can alter bargaining power. We discuss the …

macroeconomic model of commitment and credibility. As the dependent variable, we calculate a post-reform inflation rate. The … exogenous variables are the degree of legal commitment and the constraining influence of institutions. The paper allows for the … conclusion that monetary commitment, the consideration of institutional constraints and abstinence from the money press are …

intrahousehold commitment regimes: full commitment, no commitment, and limited commitment. We propose a test that distinguishes among … limited commitment. We then use our results to highlight several issues and caveats that arise when testing for commitment. …