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On the Theory of Macroeconomic Policy

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Author Info
James Tobin (Cowles Foundation, Yale University)

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Abstract

Jan Tinbergen was and is of course a scientist, full of curiosity about how the world works. But his motivation has always been more than curiosity. He wants to know how the world works so that he can make it work better. Knowledge is the foundation of policy. It was natural for Tinbergen to set forth a formal theory of policy nearly fifty years ago and it was equally natural from him to relate the theory to practical problems of policy in the Netherlands and else where and to implement it and illustrate it with the help of theoretical and econometric models. Thus Tinbergen was the originator of the subject on which I propose to speak to you today.

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Publisher Info
Paper provided by Cowles Foundation, Yale University in its series Cowles Foundation Discussion Papers with number 931.

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Length: 18 pages
Date of creation: Dec 1989
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Publication status: Published in De Economist (1990), 138(1): 1-14
Handle: RePEc:cwl:cwldpp:931

Note: CFP 745.
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Postal: Yale University, Box 208281, New Haven, CT 06520-8281 USA
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Web page: http://cowles.econ.yale.edu/
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Postal: Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA

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Related research
Keywords: Public policy; social welfare; macroeconomic policy;

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Jagjit Chadha & Philip Schellekens, . "Monetary policy loss functions: two cheers for the quadratic," Bank of England working papers 101, Bank of England. [Downloadable!]
    Other versions:
  2. Elke Muchlinski, 2005. "The Lucas Critique and Keynes Response.Considering the History of Macroeconomics," Macroeconomics 0503019, EconWPA. [Downloadable!]
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This page was last updated on 2009-12-22.


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