The Superiority of Contingent Rules over Fixed Rules in Models with Rational Expectations
收藏NBER1981-12-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/t0009
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资源简介：
The paper investigates the robustness of the proposition that in stochastic models contingent or feddback rules dominate fiped or openloop rules. Four arguments in favour of fixed rules are considere`. 1) The presence of an incompetent op malevolent policy maker. 2) A trade-off between flexibility
提供机构：
美国国家经济研究局
创建时间：
1981-12-01
