The impossibility of an Effective Theory of Policy in a Complex Economy

It is shown that for a `complex economy', characterised in terms of a formal dynamical system capable of computation universality, it is impossible to devise an effective theory of policy.

Year of publication:	2005
Authors:	Velupillai, K. Vela
Institutions:	Department of Economics, National University of Ireland
Subject:	Theory of Policy \| Dynamical System \| Computation Universality \| Recursive Rule \| Complex Economy

More details

Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Notes:	Number 0094
Classification:	C60 - Mathematical Methods and Programming. General ; E60 - Macroeconomic Policy Formation, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook. General ; E61 - Policy Objectives; Policy Designs and Consistency; Policy Coordination ; E69 - Macroeconomic Policy Formation, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook. Other
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008543374

A service of the