Tradeoffs of Austrian Budgetary Policies: an Optimum Control Analysis
نویسندگان
چکیده
In this paper, we use optimum control methods to determine optimal budgetary policies for Austria over a five-year horizon. Optimal fiscal policies are calculated using the algorithm OPTCON. Optimal policies are compared to a simulation using extrapolated values of budgetary policy variables in terms of their performance with respect to Austrian macroeconomic targets. Policy tradeoffs between these variables are quantified. Copyright © 2005 IFAC
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