Abstract
This paper examines governance. We present insights from a highly influential paper. Here are the highlights from this paper: We present an algorithmic approach for the design of fiscal policy rules. In particular, using algorithmic feedback control techniques, we design linear feedback policy rules such that predetermined target levels for GDP and public debt are simultaneously, exactly tracked. We run a number of simulations in order to examine the effects of different policy response rates and the overall effectiveness of the proposed methodology. For our overseas readers, we then present the insights from this paper in Spanish, French, Portuguese, and German.
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