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|c 5.00 USD
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|z 9781475521795
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Rozenov, Rossen.
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|a Optimal Fiscal Adjustment under Uncertainty /
|c Rossen Rozenov.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2016.
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|a 1 online resource (51 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a The paper offers a non-probabilistic framework for representation of uncertainty in the context of a simple linear-quadratic model of fiscal adjustment. Instead of treating model disturbances as random variables with known probability distributions, it is only assumed that they belong to some pre-specified compact set. Such an approach is appropriate when the decision maker does not have enough information to form probabilistic beliefs or when considerations for robustness are important. Solution of the model in the minimax sense when disturbance sets are ellipsoids is obtained and the application of the method is illustrated using the example of Portugal.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 2016/069
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2016/069/001.2016.issue-069-en.xml
|z IMF e-Library
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