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Feedback pp 41-54 | Cite as

Uncertainty

Chapter
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Part of the Advanced Studies in Theoretical and Applied Econometrics book series (ASTA, volume 10)

Abstract

Uncertainty is pervasive in macroeconomics. One need only look at the forecasting records of the most talented analysts or of the most sophisticated computer models to realize the amount of uncertainty in the economy. Yet most methods of macroeconomic policy determination ignore uncertainty. In contrast, feedback methods incorporate uncertainty fully into the analysis of policy options.

Keywords

Monetary Policy Fiscal Policy Percent Confidence Interval Macroeconomic Policy Percent Probability 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Martinus Nijhoff Publishers, Dordrecht 1988

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