For his contribution to dynamic macroeconomics: The time consistency of economic policy and the driving forces behind business cycle
Affiliation at the time of Award
University of California, Carnegie Mellon university
1 He showed that economic policies are often plagued by problems of time inconsistency. Demonstrated that society could gain from prior commitment to economic policy. Introduced new ideas about economic policy design and the driving forces behind business cycles.
1 Business cycles and aggregate labour market fluctuations (1995).
2 Independent monetary policies synchronised outcomes (2013).
3 On Policy Consistency (2014).
4 Monetary policy, the Tax Code and the Real Effects of Energy Shocks (2015).