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Optimizing macroeconomic policy: A review of approaches and applications

Authors
Journal
European Journal of Operational Research
0377-2217
Publisher
Elsevier
Publication Date
Volume
10
Issue
3
Identifiers
DOI: 10.1016/0377-2217(82)90219-3
Disciplines
  • Computer Science
  • Economics
  • Mathematics

Abstract

Abstract In this paper the main approaches to optimizing macroeconomic policy problems are reviewed. These include the classical approaches of Tinbergen, Theil and Frisch as well as several mathematical programming methods, such as linear programming, goal programming, interactive multiple criteria optimization, and methods of optimal control. In addition, several applications are described. Finally, the usefullness and suitability of these approaches to solving macroeconomic policy problems in practice is discussed.

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