Abstract
We should give some consideration to the nature and problems of cycle policy in the light of econometric models.1 As the matter stands now, we cannot place enough confidence in any one model as a representation of complex reality to base a positive, quantitative policy on it. Yet it is stimulating and useful to consider how we would go about such problems if, as ultimately we must hope will be the case, our model were adequate to the task.
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Notes
I. A. Getting, `Servo Systems’, in H. M. James, N. B. Nichols and R. S. Phillips (eds.), Theory of Servomechanisms, M.I.T. Radiation Laboratory Series, p. 3. Courtesy of McGraw-Hill Book Co., New York, 1947.
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© 1982 R. M. Goodwin
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Goodwin, R.M. (1982). The Nature and Problems of Cycle Policy. In: Essays in Economic Dynamics. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-05504-3_8
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DOI: https://doi.org/10.1007/978-1-349-05504-3_8
Publisher Name: Palgrave Macmillan, London
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