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ADELMAN, IRMA,ROLAND-HOLST, DAVID W.,SARRIS, ALEXANDER H. 한국국제경제학회 1990 International Economic Journal Vol.4 No.2
Economic policy formulation in the presence of uncertainty is studied in a general equilibrium framework using techniques adapted from the theory of stochastic optimal control. The structure of the economy is represented by a dynamic computable general equilibrium model. Adjustment rules are derived by minimizing an expected loss function whose arguments are the deviations of a set of targets from an intended time path. Adjustment matrices are derived to provide ex ante rules for automatic policy response to unexpected fluctuations in economic conditions which keep target variables near their intended paths.
Reflections on the Political Economy of Planning: The Case of Korea
Adelman Irma,Westphal Larry E. 연세대학교 동서문제연구소 1973 東西硏究 JOURNAL OF EAST AND WEST STUDIES Vol.2 No.1
The ultimate goal of planning is more efficient resource allocation through improved decision making. In the short and intermediate run, the activity of planning can contribute to this goal by accomplishing two different purposes: It can improve the quality of economic decisions actually made by helping formulate consistent and/or efficient economic policies. Or, it can help improve the attitudes and institutions which enhance the capacity for good decision making. The plan which is good by the first criterion is not necessarily good by the second, and vice-versa.