Incertitude et opinions différentes sur l'effet de la politique économique

Daniel Laskar ()

Revue économique, 2007, vol. 58, issue 2, 351-379

Abstract: We consider a model where there exists an uncertainty on whether economic policy has an effect or not. There are two potential policymakers, one being more ?sceptical? about the existence of this effect. Among these two policymakers, which one does society prefer? The paper underlines that the answer depends on whether some ?ambiguity aversion? is introduced in the analysis. Under a bayesian approach, where ambiguity aversion is absent, the more activist policymaker is prefered. The opposite result is obtained when the ambiguity aversion of society is large enough. Classification JEL : E52, E58.

JEL-codes: E52 E58 (search for similar items in EconPapers)
Date: 2007
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