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The Emerging New Theory of Economic Policy

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Author Info

  • Acocella, Nicola

    ()
    (University La Sapienza, Department of Public Economics)

  • Di Bartolomeo, Giovanni

    ()
    (Facoltà di Scienze della Comunicazione, Università di Teramo)

Abstract

This paper outlines the evolution of the theory of economic policy from the classical contributions of Ragnar Frisch, Ian Tinbergen, Bent Hansen, Henri Theil to recent work in the field of strategic interaction. The new, emerging theory of economic policy, albeit rooted in the classical paradigm, is consistent with rational expectations, and is particularly important for model building, as it states general conditions for the effectiveness of economic policy and the existence of equilibrium.

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Bibliographic Info

Article provided by Camera di Commercio di Genova in its journal Economia Internazionale / International Economics.

Volume (Year): 61 (2008)
Issue (Month): 2-3 ()
Pages: 135-150

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Handle: RePEc:ris:ecoint:0023

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Related research

Keywords: Policy Games; Policy Effectiveness; Controllability; Equilibrium Existence;

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