Feedback policy rules for government spending: An algorithmic approach

We present an algorithmic approach for the design of fiscal policy rules. In particular, using algorithmic feedback control techniques, we design linear feedback policy rules such that predetermined target levels for GDP and public debt are simultaneously, exactly tracked. We run a number of simulations in order to examine the effects of different policy response rates and the overall effectiveness of the proposed methodology.

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Year of publication:	2017
Authors:	Kostarakos, Ilias ; Kotsios, Stelios
Published in:	Journal of Economic Structures. - Heidelberg : Springer, ISSN 2193-2409. - Vol. 6.2017, 5, p. 1-10
Publisher:	Heidelberg : Springer
Subject:	Fiscal policy \| Public debt \| Linear feedback control \| Algorithmic control

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Type of publication:	Article
Type of publication (narrower categories):	Article
Language:	English
Other identifiers:	10.1186/s40008-017-0065-z [DOI] 890865043 [GVK] hdl:10419/194943 [Handle]
Source:	EconStor

Persistent link: https://www.econbiz.de/10011991472