Feedback policy rules for government spending: an algorithmic approach
Ilias Kostarakos () and
Stelios Kotsios ()
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Stelios Kotsios: National and Kapodistrian University of Athens
Journal of Economic Structures, 2017, vol. 6, issue 1, 1-10
Abstract We present an algorithmic approach for the design of fiscal policy rules. In particular, using algorithmic feedback control techniques, we design linear feedback policy rules such that predetermined target levels for GDP and public debt are simultaneously, exactly tracked. We run a number of simulations in order to examine the effects of different policy response rates and the overall effectiveness of the proposed methodology.
Keywords: Fiscal policy; Public debt; Linear feedback control; Algorithmic control (search for similar items in EconPapers)
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