Achieving Macroeconomic Goals
Review of Economic Studies
1982
Two basic approaches to using dynamic econometric models to formulate macroeconomic policy are generally in use. These are: invertible transfer function methodology and optimal control methodology. In this paper a technique for determining dynamic growth paths is presented. The result of the application of this technique is the synthesis of the two approaches into a single approach yielding a policy with more desirable characteristics than was previously possible. An example of the use of this synthesis technique using Pindyck's model is presented.
- DOI
- 10.2307/2297145
- Volume
- 49 (1)
- Pages
- 117
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- BibTeX
- Sources
- openalex crossref