Adaptive Control of Macroeconomic Models with Measurement Error

David Kendrick

Chapter 9 in Optimal Control for Econometric Models, 1979, pp 204-227 from Palgrave Macmillan

Abstract: Abstract The data used by policy analysts to determine monetary and fiscal policies are known to contain errors. In fact these data are constantly being revised as more information becomes available. The magnitude of these revisions gives us a measure of the relative quality of different macroeconomic time series and yet economists do not presently use this information in determining policies.

Keywords: Adaptive Control; Fiscal Policy; Econometric Model; Government Spending; Adaptive Control Method (search for similar items in EconPapers)
Date: 1979
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DOI: 10.1007/978-1-349-16092-1_9

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