Abstract
The paper first summarizes the current theory of policy valuation and Lucas's critique of it. The authors then formulate the problem as a game and develop a concept of an optimal policy rule. A theoretical model is developed for the analysis of the effects of alternative investment tax credit policies. This structure is then used to illustrate the determination of optimal policy. A comparison is also made with current procedures.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 217-222 |
| Number of pages | 6 |
| Journal | [No source information available] |
| State | Published - 1974 |
| Externally published | Yes |
ASJC Scopus subject areas
- Engineering(all)