Buiter, Willem H. <br/><br/>
Issues in Controllability and the Theory of Economic Policy / 
Willem H. Buiter, Mark Gersovitz. 
 - Cambridge, Mass.  National Bureau of Economic Research  1981. 
 - 1 online resource:  illustrations (black and white); 
 - NBER technical working paper series  no. t0002 .
 - Technical Working Paper Series (National Bureau of Economic Research)  no. t0002. .
<br/><br/> July 1981. 
<br/><br/> The paper demonstrates that the concepts of dynamic controllability are useful for the theory of economic policy by establishing four propositions. First dynamic controllability is a central concept in stabilization policy. Second, the ability to achieve a target state, even if it cannot be maintained. may be of economic interest. Third, dynamic controllability is of special interest for 'historical' models. Fourth, the conditions for any notion of dynamic controllability are distinct from and weaker than those for Tinbergen static controllability. 
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