A New Macroeconomic Forecasting and Policy Evaluation Method

Thomas L. Saaty () and Luis G. Vargas ()
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Thomas L. Saaty: University of Pittsburgh
Luis G. Vargas: University of Pittsburgh

Chapter Chapter 14 in Models, Methods, Concepts & Applications of the Analytic Hierarchy Process, 2012, pp 187-201 from Springer

Abstract: Abstract The economy is often faced with a turn that is not to our liking, and we sometimes think it ought to be controllable by macroeconomic policy. While the spectrum of policies ranges from Keynesian “fine tuning” to using monetarist “rules,” every action (or inaction) of the government is a policy. Because of this it is important that government policy makers be guided by appropriate empirical models. Unfortunately, there is considerable variation in the large numbers of econometric models that have been developed thus far. Moreover, there are persistent problems, both technical and theoretical, with these models.

Keywords: National Welfare; Analytic Hierarchy Process; Inflation Rate; Econometric Model; Government Spending (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:spr:isochp:978-1-4614-3597-6_14

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DOI: 10.1007/978-1-4614-3597-6_14

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