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Policy games, policy neutrality and Tinbergen controllability under rational expectations

Giovanni Di Bartolomeo (), Andrew Hughes Hallett () and Nicola Acocella

wp.comunite from Department of Communication, University of Teramo

Abstract: This paper shows the relationship between static controllability (the well-known Tinbergen golden rule), and the existence and other properties of the Nash equilibrium in a dynamic setting with rational expectations for future behavior. We show how to determine the existence of equilibrium outcomes; the conditions under which no equilibrium exists; and who will get to dominate (or who will find their policies to have become ineffective) in those equilibria, without having to compute and enumerate all the possible equilibria directly.

Date: 2008-01
New Economics Papers: this item is included in nep-cba, nep-gth, nep-mac and nep-mic
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Journal Article: Policy games, policy neutrality and Tinbergen controllability under rational expectations (2010) Downloads
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