Time Varying Responses of Output to Monetary and Fiscal Policy
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概要
- 論文の詳細を見る
The debate about the time-variability of monetary-fiscal policy was addressed before using US data. The earlier method was to truncate the data set and estimate a single equation model for several samples. In this paper a different approach is introduced using a simultaneous equation model using adaptive optimal control. In this method the model (i. e. the coefficients of the equations) will be contiunously updated along with the solution process of adaptive control. As a result, we can obtain continuous revisions of the model and different response multipliers for different period and time-varying monetary-fiscal policies. The method was applied to a model for India and results were analysed. We can observe the time-varying monetary-fiscal policies, which should be more consistent with the changing characteristics of the model.
- 長崎大学の論文
- 2007-03-23
著者
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Basu Dipak
長崎大学経済学部
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Lazaridis Alexis
Faculty of Law, Economics and Political Science, Aristotle University of Thessaloniki
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Lazaridis Alexis
Faculty Of Law Economics And Political Science Aristotle University Of Thessaloniki
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