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Persistent link: https://www.econbiz.de/10012596761

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Tests of policy ineffectiveness in macroeconometrics

Pesaran, M. Hashem; Smith, Ron - 2014

This paper proposes tests of policy ineffectiveness in the context of macroeconometric rational expectations models. It is assumed that there is a policy intervention that takes the form of changes in the parameters of a policy rule, and that there are sufficient observations before and after...

Persistent link: https://www.econbiz.de/10010375404