suppose that the government would switch to a strong countercyclical viewpoint, reflected in a more negative value
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suppose that the government would switch to a strong countercyclical viewpoint, reflected in a more negative value for the parameter 11,2. Predictions with the model based on the existing estimates of the (pi-parameters would seriously misrepresent the real effects of this policy switch, due to the fact that the actual 0,-parameters would change.
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Related Book For
Foundations Of Modern Macroeconomics
ISBN: 9781264857937
1st Edition
Authors: Ben J. Heijdra, Frederick Van Der Ploeg
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