Titlebook: Applied Decision Analysis and Economic Behaviour; A. J. Hughes Hallett Book 1984 Martinus Nijhoff Publishers, Dordrecht 1984 calculus.dyna

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Optimal Stabilisation Policies Under Perfect Foresightal choice of trade-off between them has been investigated by a number of authors. The earliest studies, conducted in the mid 1960’s were purely static; see, for example, Lipsey (1965) and Brechling (1968). Subsequently, the analysis was extended to a dynamic context on the assumption that inflationa

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Optimal Feedback and Feedforward Stabilisation of Exchange Rates, Money, Prices and Output Under Rathange is assumed to be efficient and forward-looking in the sense of the rational expectations hypothesis, but the domestic goods and labour markets are assumed to respond sluggishly. As was originally stressed by Dornbusch (1976), if in these circumstances a government attempts to reduce the rate o

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Controlling an Econometric Model Using Different Coefficient Setsissue which has received much attention during the last decade is how random disturbances in the model equations will affect optimal policies. Another issue and one which seems to have been overlooked is the effects of coefficient estimates of different refinement on the determination of optimal pol

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Incomes Policy in a Political Environment: a Structural Model for the U.K. 1961–1980ed in many countries as inflation control devices. They have been much discussed and currently seem to be out of favour both in left wing parties with their trade union supporters, and in right wing parties which believe instead in the market mechanism. Some trade unionists have taken the view that

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The Evaluation of Historical Policy Via Optimal Control Techniques. Although it is possible to ‘evaluate’ policies in an informal, purely descriptive sense, any formal evaluation must include the specification of targets, or goals, and a scheme for assessing performance toward those goals.

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