The Institute for Social and Economic Research and Policy is now open.  Our office hours are from: 9:00am - 5:00pm, Monday - Friday. Please refer to the COVID-19 Resource Guide for all matters related to the return to campus.  All visitors and vendors must fill out the Columbia University Health Screening Form.  We look forward to seeing you on campus.

Events

Conference on the Credibility of Government Policy in Honor of Guillermo Calvo

February 22, 2023 to February 24, 2023

Event Type: 

In 1978 Guillermo Calvo published the paper “On the Time Consistency of Optimal Policy in a Monetary Economy”. This paper shows how a conflict between the interests of the current government with those of a future government, both of which share the same objective of maximizing social welfare, gives rise to a credibility problem. This seminal paper kickstarted a broad research agenda, which includes, for example, the problem of inflation stabilization, the unintended consequences of non-credible policies, balance of payments crises, sovereign debt crises, and the design of sustainable public debt management strategies. This conference will celebrate the “time consistency” paper´s 45th anniversary by gathering state-of-the-art research on the topic and bringing together academic researchers and policymakers who have to make decisions in environments without commitment.

Organizers. Andy Neumeyer (Universidad Torcuato Di Tella) and Martín Uribe (Columbia University)

The program and registration form can be found here.

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