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A New Macroeconomic Forecasting and Policy Evaluation Method

In: Models, Methods, Concepts & Applications of the Analytic Hierarchy Process

Author

Listed:
  • Thomas L. Saaty

    (University of Pittsburgh)

  • Luis G. Vargas

    (University of Pittsburgh)

Abstract

The economy is often faced with a turn that is not to our liking, and we sometimes think it ought to be controllable by macroeconomic policy. While the spectrum of policies ranges from Keynesian “fine tuning” to using monetarist “rules,” every action (or inaction) of the government is a policy. Because of this it is important that government policy makers be guided by appropriate empirical models. Unfortunately, there is considerable variation in the large numbers of econometric models that have been developed thus far. Moreover, there are persistent problems, both technical and theoretical, with these models.

Suggested Citation

  • Thomas L. Saaty & Luis G. Vargas, 2012. "A New Macroeconomic Forecasting and Policy Evaluation Method," International Series in Operations Research & Management Science, in: Models, Methods, Concepts & Applications of the Analytic Hierarchy Process, edition 2, chapter 0, pages 187-201, Springer.
    • Handle: RePEc:spr:isochp:978-1-4614-3597-6_14
    DOI: 10.1007/978-1-4614-3597-6_14
    as

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