Proiectarea politicilor macroeconomice optimale

Nora Mihail
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Nora Mihail: Academia de Studii Economice Bucuresti

Theoretical and Applied Economics, 2006, vol. 4(499)(supplement), issue 4(499)(supplement), 209-218

Abstract: Macroeconomic policies are designed to reach real economic targets like: lower employment and inflation rate, increasing output, balance of payment equilibrium, and so on. There is no unique model to choose the appropriate policy in a real context. That depends on too many influence factors – economical, political, and social – but it is possible to design a rational policy. After the implementation of this policy it follows a period of time when it is analysed through the transmission effects in the real economic system. The performance of the policy could be improved and adapted in such a way to correspond perfectly both to the economic objectives and to political context. Macroeconomic policies design could be formulated like an optimisation problem if it is known the social welfare function. In this respect we can find out the values of instrumental variables which satisfy the restrictions and maximized the values of social welfare function.

Keywords: macroeconomic policy design; decision rules; variable instruments; social welfare function; optimal conditions. (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:agr:journl:v:4(499)(supplement):y:2006:i:4(499)(supplement):p:209-218

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