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Optimal policy rules and regime switching in disequilibrium models
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.ORCID iD: 0000-0001-8826-0410
1985 (English)In: Journal of Public Economics, ISSN 0047-2727, E-ISSN 1879-2316, Vol. 27, no 2, 247-254 p.Article in journal (Refereed) Published
Abstract [en]

This paper emphasizes the need to search for globally optimal policy levels (for public production, say) in fix-price disequilibrium analysis. Regime-specific rules are inadequate. They ignore the fact that moving a policy towards its optimal level may move the economy from its initial disequilibrium regime to a different regime where the rule no longer applies.

Place, publisher, year, edition, pages
1985. Vol. 27, no 2, 247-254 p.
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URN: urn:nbn:se:uu:diva-20143DOI: 10.1016/0047-2727(85)90049-0OAI: oai:DiVA.org:uu-20143DiVA: diva2:47916
Available from: 2006-12-05 Created: 2006-12-05 Last updated: 2013-07-09

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Publisher's full texthttp://econpapers.repec.org/article/eeepubeco/v_3a27_3ay_3a1985_3ai_3a2_3ap_3a247-254.htm

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