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- Cuddington, John T (author)
Optimal policy rules and regime switching in disequilibrium models
- Article/chapterEnglish1985
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- Elsevier BV,1985
- printrdacarrier
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- LIBRIS-ID:oai:DiVA.org:uu-20143
- https://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-20143URI
- https://doi.org/10.1016/0047-2727(85)90049-0DOI
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- Language:English
- Summary in:English
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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 and genre
- SAMHÄLLSVETENSKAP Ekonomi och näringsliv Nationalekonomi hsv//swe
- SOCIAL SCIENCES Economics and Business Economics hsv//eng
- Nationalekonomi
- Economics
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- Johansson, Per-Olov (author)
- Ohlsson, Henry,1956-Uppsala universitet,Nationalekonomiska institutionen(Swepub:uu)henryos (author)
- Uppsala universitetNationalekonomiska institutionen (creator_code:org_t)
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- In:Journal of Public Economics: Elsevier BV27:2, s. 247-2540047-27271879-2316
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