Macroeconomic Policy, Credibility and Politics

Torsten Persson, Guido Tabellini, Jean-Michel Grandmont

'This is an extremely useful book for those who want a thorough review of the subject.' - Thomas Havrilesky, Duke University, USA

• 1. Economic Policy as a Game 2. Committment versus Discretion in Monetary Policy 3. Reputation and Signalling 4. Election and Monetary Policy 5. Commitment versus Discretion in Wealth Taxation 6. Social Institutions and Credible Tax Policy 7. Credibility and Public Debt Management 8. The Political Economy of Government Debt