Lecture / Ponencia XX Uncertainty Analysis in the IS-LM Model

نویسندگان

  • Joaquim Gabarro
  • Maria Serna
چکیده

We introduce a model for uncertainty in the IS-LM linear macroeconomic model with exogenous parameters. An uncertainty profile U is a short and macroscopic description of an stressed situation. We use U to define a strategic game where two agents, the angel and the daemon, act selfishly and have different goals. Those Nash equilibria provide the stable strategies in stressed situations, giving a natural estimation of risk. We apply this analysis to a linear version of the IS-LM model and analyse the structure of the Nash equilibria in some particular games.

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تاریخ انتشار 2015