A Study of the Alternative Policies in the Control of a National Economy via Dynamic Programming.
This paper attempts to cast a light on some of the long-standing issues regarding the effectiveness and relative merits of alternative policies by simulation studies using an illustrative economic model. No econometric technique has been used to estimate model parameters. It is believed, however, th...
| Publicado en: | Economica Vol. 39; no. 154; pp. 135 - 160 |
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| Autores principales: | , |
| Formato: | Artículo |
| Publicado: |
Wiley-Blackwell
May72
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=4516533&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 4516533 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 00130427 ECA jtl: Economica issn: 00130427 maglogo: Y pubinfo: dt: May72 vid: 39 iid: 154 pid: 480 pub: Wiley-Blackwell artinfo: ui: 4516533 10.2307/2552638 ppf: 135 ppct: 25 formats: tig: atl: A Study of the Alternative Policies in the Control of a National Economy via Dynamic Programming. aug: au: Ho, D. C. C. Noton, Maxwell affil: University of Waterloo, Ontario, Canada. su: Mathematical models of economics Dynamic programming Economic models Economic stabilization Consumption (Economics) Economic equilibrium Public spending Economic policy Econometrics sug: subj: Mathematical models of economics Dynamic programming Economic models Economic stabilization Consumption (Economics) Economic equilibrium Public spending Economic policy Econometrics ab: This paper attempts to cast a light on some of the long-standing issues regarding the effectiveness and relative merits of alternative policies by simulation studies using an illustrative economic model. No econometric technique has been used to estimate model parameters. It is believed, however, that an empirical model may not be appropriate for studying the potential impact of certain policy variables since we have no guarantee that the econometrically estimated parameters will yield valid dynamic, closed-loop simulations. What is needed therefore is a new estimation technique that uses as its criterion of goodness-of-fit, "How well does the model simulate and predict?" rather than "How well does it fit historical data?". pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y dt: @attributes: year: 1972 holdings: @attributes: islocal: N |
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