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Optimal policy rule...
Optimal policy rules and regime switching in disequilibrium models
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Cuddington, John T (author)
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Johansson, Per-Olov (author)
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- Ohlsson, Henry, 1956- (author)
- Uppsala universitet,Nationalekonomiska institutionen
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(creator_code:org_t)
- Elsevier BV, 1985
- 1985
- English.
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In: Journal of Public Economics. - : Elsevier BV. - 0047-2727 .- 1879-2316. ; 27:2, s. 247-254
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Abstract
Subject headings
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- This paper emphasizes the need to search for globally optimal policy levels (for public production, say) in fix-price disequilibrium analysis. Regime-specific rules are inadequate. They ignore the fact that moving a policy towards its optimal level may move the economy from its initial disequilibrium regime to a different regime where the rule no longer applies.
Subject headings
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Economics (hsv//eng)
Keyword
- Nationalekonomi
- Economics
Publication and Content Type
- ref (subject category)
- art (subject category)
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