Economics, Econometrics and Finance
3 years ago

Indeterminacy of policy rules could shake up economic stability.

SSRN Electronic Journal
The Indeterminacy of Determinacy with Fiscal, Macro-Prudential or Taylor Rules
Jean–Bernard Chatelain, Kirsten Ralf

Paper Summary

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The article discusses how certain economic models can be uncertain in their outcomes when it comes to making decisions about policies related to finance and the economy. The researchers found that the way policy instruments are used can affect whether the models are predictable or not. They suggest that considering six specific criteria can help make these models more reliable when making decisions about policy targets.