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The Asymptotic Distribution of Optimal Policy Feedback Coefficients

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Econometric Decision Models

Part of the book series: Lecture Notes in Economics and Mathematical Systems ((LNE,volume 208))

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Abstract

In this paper it is proposed to associate the optimal policy feedback coefficients with explicit error bands. The framework is the standard econometric decision model, where the welfare loss function is quadratic, and the set of constraints is given by a linear econometric model. We consider the numerically specified parameters of the optimal policy feedback rules to be derived estimates from the estimated parameters of the econometric model. Accordingly the asymptotic distribution of the estimated feedback parameters will be derived from the asymptotic distribution of the consistently estimated parameters of the econometric model.A numerical example will be given.

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Author information

Authors and Affiliations

  1. Fakultät für Wirtschaftswissenschaften, Universität Bielefeld, Postfach 8640, Universitätsstraße, D-4800, Bielefeld 1, Federal Republic of Germany

    Ralph Friedmann

Authors
  1. Ralph Friedmann
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Editor information

Editors and Affiliations

  1. Fachbereich Wirtschafts- und Rechtswissenschaften, Fernuniversität Hagen, Roggenkamp 6, D-5800, Hagen, Germany

    Josef Gruber Ph.D.

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© 1983 Springer-Verlag Berlin Heidelberg

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Friedmann, R. (1983). The Asymptotic Distribution of Optimal Policy Feedback Coefficients. In: Gruber, J. (eds) Econometric Decision Models. Lecture Notes in Economics and Mathematical Systems, vol 208. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-46464-5_10

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  • DOI: https://doi.org/10.1007/978-3-642-46464-5_10

  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-540-11554-0

  • Online ISBN: 978-3-642-46464-5

  • eBook Packages: Springer Book Archive

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