Within a macroeconomic disequilibrium model it turns out that stationary and simple adaptive policies are not capable of stabilizing effkient steady states and lead to periodic or irregular fluctuations for large sets of policy parameters. The application of recent control methods for chaotic dynamical systems shows that the government can, in principle, stabilize an unstable Walrasian equilibr...

Th is paper analyses the nature and causes of the patterns of inequality and poverty in India. Since the economic liberalization in the early 1990s, the evidence suggests increasing inequality (in both spatial and vertical terms) as well as persistent poverty. Th e macroeconomic policies possibly responsible for these trends include—fi scal tightening, regressive tax policies and expenditure cu...

This paper analyses the design of macroeconomic policies for Slovenia during the process of full integration into the European Economic and Monetary Union (EMU). “Optimal” monetary and fiscal policies are determined as solutions of optimum control problems with a quadratic objective function and the macroeconometric model SLOPOL as constraint. Several optimization experiments under a flexible e...

There have been numerous attempts at the formation of regional policy groupings within Latin America and the Caribbean (LAC). This paper analyses the similarities in macroeconomic policies pursued by member countries using realised correlation analysis on 26 LAC countries and observations covering the period 1970–2005. The study finds evidence of co-movement in monetary, fiscal, trade and capit...

An open puzzle for climate-policy analysis is how policies could be made sensitive to climate change impacts spanning over centuries while keeping the shorterterm macroeconomic policies connected to the descriptive facts. We develop a tractable general-equilibrium model for climate-economy interactions with timedeclining pure discounting. The model resolves the puzzle: preferences over longterm...

Investigation of the Effects Government Macroeconomic Policies on Development Employment in Agricultural Sector

This paper considers the design of macroeconomic policies in the face of uncertainty. In recent years, several economists have advocated that when policymakers are uncertain about the environment they face and find it difficult to assign precise probabilities to the alternative scenarios that may characterize this environment, they should design policies to be robust in the sense that they mini...