| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w10495 |
| 来源ID | Working Paper 10495 |
| Elements of a Theory of Design Limits to Optimal Policy | |
| William A. Brock; Steven N. Durlauf | |
| 发表日期 | 2004-05-17 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | This paper presents a framework for understanding the limits that exist in optimal policy design in dynamic contexts. We consider the design of policies in the context of dynamic linear models. Fundamental design limits exist for policy rules in such environments in the sense that any policy rule embodies tradeoffs between the magnitudes of different frequency-specific components of the variance. Hence policies that are effective in eliminating low frequency variance components of a state variable can only do so at the cost of exacerbating high frequency variance components, and vice versa. Examples of the implications of such tradeoffs are considered. |
| 主题 | Econometrics ; Estimation Methods ; Macroeconomics ; Fiscal Policy |
| URL | https://www.nber.org/papers/w10495 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/568124 |
| 推荐引用方式 GB/T 7714 | William A. Brock,Steven N. Durlauf. Elements of a Theory of Design Limits to Optimal Policy. 2004. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w10495.pdf（259KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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