Modelling Reality: The Need for Both Inter-temporal Optimization and Stickiness in Models for Policy-Making.
There is a thriving debate on the usefulness of economic models for policy analysis which this paper explores. It argues that there is a need for models that incorporate both the modern intertemporal approach to macroeconomics and short-run ad-hoc behaviour. This need cannot be met by the simple mod...
| Main Authors: | , |
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| Format: | Journal article |
| Language: | English |
| Published: |
2000
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