کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5055922 1371504 2008 5 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Minimize regulations to regulate - Extending the Lucas Critique
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Minimize regulations to regulate - Extending the Lucas Critique
چکیده انگلیسی

Lucas [Lucas, Robert, E., Jr. (1976), “Econometric Policy Evaluation: A Critique”, Carnegie-Rochester Conference Series on Public Policy, 1, pp 19-46] had argued that interventionist macroeconomics policies may fail because policies themselves affect the optimal behaviour of private agents and hence the associated response parameters. We extend Lucas argument and propose that highly controlled and regulated environment leads to misinterpretation of official statistics and therefore distort policy predictions based on such information. In a way policies will have predictability in a more open and less regulated environment.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Economic Modelling - Volume 25, Issue 4, July 2008, Pages 623-627
نویسندگان
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