IDEAS home Printed from https://ideas.repec.org/p/nig/wpaper/0094.html
   My bibliography  Save this paper

The impossibility of an Effective Theory of Policy in a Complex Economy

Author

Listed:
  • K. Vela Velupillai

    (Department of Economics, National University of Ireland, Galway)

Abstract

It is shown that for a `complex economy', characterised in terms of a formal dynamical system capable of computation universality, it is impossible to devise an effective theory of policy.

Suggested Citation

  • K. Vela Velupillai, 2005. "The impossibility of an Effective Theory of Policy in a Complex Economy," Working Papers 0094, National University of Ireland Galway, Department of Economics, revised 2005.
  • Handle: RePEc:nig:wpaper:0094
    as

    Download full text from publisher

    File URL: http://www.economics.nuig.ie/resrch/paper.php?pid=101
    File Function: First version, 2005
    Download Restriction: no

    File URL: http://www.economics.nuig.ie/resrch/paper.php?pid=101
    File Function: Revised version, 2005
    Download Restriction: no

    References listed on IDEAS

    as
    1. Fidrmuc, Jan, 2004. "Migration and regional adjustment to asymmetric shocks in transition economies," Journal of Comparative Economics, Elsevier, vol. 32(2), pages 230-247, June.
    2. Kahanec, Martin & Zimmermann, Klaus F., 2008. "International Migration, Ethnicity and Economic Inequality," IZA Discussion Papers 3450, Institute for the Study of Labor (IZA).
    3. Bauer, Thomas K. & Zimmermann, Klaus F., 1999. "Report No. 3: Assessment of Possible Migration Pressure and its Labour Market Impact Following EU Enlargement to Central and Eastern Europe," IZA Research Reports 3, Institute for the Study of Labor (IZA).
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Theory of Policy; Dynamical System; Computation Universality; Recursive Rule; Complex Economy;

    JEL classification:

    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E69 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Other

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nig:wpaper:0094. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Srinivas Raghavendra). General contact details of provider: http://edirc.repec.org/data/deucgie.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.