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Tinbergen And Theil Meet Nash: Controllability In Policy Games

  • Nicola Acocella

    (University of Rome I)

  • Giovanni Di Bartolomeo

    (University of Rome I)

This paper generalizes the classical theory of economic policy developed by Tinbergen and Theil to a static LQ-strategic context between n players. We show how this generalized version of controllability can profitably be used to deal with policy ineffectiveness issues and Nash equilibrium existence.

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File URL: http://128.118.178.162/eps/mac/papers/0504/0504036.pdf
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Paper provided by EconWPA in its series Macroeconomics with number 0504036.

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Length: 9 pages
Date of creation: 26 Apr 2005
Date of revision: 06 Sep 2005
Handle: RePEc:wpa:wuwpma:0504036
Note: Type of Document - pdf; pages: 9
Contact details of provider: Web page: http://128.118.178.162

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  1. Giovanni Di Bartolomeo & Nicola Acocella, 2005. "Non-Neutrality Of Monetary Policy In Policy Games," Macroeconomics 0504026, EconWPA.
  2. Gylfason, Thorvaldur & Lindbeck, Assar, 1991. "The Interaction of Monetary Policy and Wages," CEPR Discussion Papers 551, C.E.P.R. Discussion Papers.
  3. Dasgupta, Partha & Maskin, Eric, 1986. "The Existence of Equilibrium in Discontinuous Economic Games, I: Theory," Review of Economic Studies, Wiley Blackwell, vol. 53(1), pages 1-26, January.
  4. Hughes Hallett, Andrew J, 1989. "Econometrics and the Theory of Economic Policy: The Tinbergen-Theil Contributions 40 Years On," Oxford Economic Papers, Oxford University Press, vol. 41(1), pages 189-214, January.
  5. Sargent, Thomas J & Wallace, Neil, 1975. ""Rational" Expectations, the Optimal Monetary Instrument, and the Optimal Money Supply Rule," Journal of Political Economy, University of Chicago Press, vol. 83(2), pages 241-54, April.
  6. Nicola Acocella & Giovanni Di Bartolomeo, 2005. "Controllability and non-neutrality of economic policy: The Tinbergen’s approach in a strategic context," Macroeconomics 0504034, EconWPA.
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