Políticas de estabilización económica

Abstract

The purpose of the present article is to throw some light on the problem of optimal regulation of an economy. Phillip's model is generalized; Tinbergen's results are then applied to its static solution, and results from the theory of optimal control are applied to its dynamic solution. New propositions on the possibility of stabilizing dynamic systems are obtained. The necessity of explicit economic objectives is shown; in this way the subject of optimal stabilization is approached. The degree of dampening of the system and the social cost of not attaining the targets are proposed as optimality criteria. Finally, restrictions on the use of instruments are introduced, which produce some difficulties for the design of stabilization policies which are optimal with respect to said criteria.