Economic stabilization policy: a survey
AbstractThis paper reviews selected studies in the theory of macroeconomic stabilization policy and summarizes their key findings. A simple model is constructed which includes all surveyed models as special cases. All solutions are derived and described step by step.
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Bibliographic InfoPaper provided by Federal Reserve Bank of Minneapolis in its series Staff Report with number 68.
Date of creation: 1981
Date of revision:
This paper has been announced in the following NEP Reports:
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Special Studies Papers
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- William Poole, 1970. "Optimal choice of monetary policy instruments in a simple stochastic macro model," Staff Studies 57, Board of Governors of the Federal Reserve System (U.S.).
- Chow, Gregory C, 1975. "A Solution to Optimal Control of Linear Systems with Unknown Parameters," The Review of Economics and Statistics, MIT Press, vol. 57(3), pages 338-45, August.
- Chow, Gregory C, 1972. "Optimal Control of Linear Econometric Systems with Finite Time Horizon," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 13(1), pages 16-25, February.
- Lucas, Robert Jr., 1972. "Expectations and the neutrality of money," Journal of Economic Theory, Elsevier, vol. 4(2), pages 103-124, April.
- Fischer, Stanley & Cooper, J Phillip, 1973. "Stabilization Policy and Lags," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 847-77, July-Aug..
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