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| Main Authors: | , , |
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| Format: | Preprint |
| Published: |
2025
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| Subjects: | |
| Online Access: | https://arxiv.org/abs/2512.15723 |
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| _version_ | 1866917153140113408 |
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| author | Cserháti, Ilona Gyurkovics, Éva Takács, Tibor |
| author_facet | Cserháti, Ilona Gyurkovics, Éva Takács, Tibor |
| contents | To model the interaction of fiscal and monetary policy, a novel discrete-time, uncertain, infinite time horizon, dynamic game model is developed, where the uncertainties of expectations are modeled by unknown nonlinear but quadratically constrained deterministic functions. Cost-guaranteeing Nash strategies are defined for fiscal and monetary policy as two players. The model is suitable for comparative analysis of the development paths of catching-up economies. Specifically, we evaluate nine possible development paths for the Hungarian economy, where each path is characterised by a proxy for the debt-to-GDP ratio. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2512_15723 |
| institution | arXiv |
| publishDate | 2025 |
| record_format | arxiv |
| spellingShingle | Evaluation of catch-up paths by an uncertain dynamic game model Cserháti, Ilona Gyurkovics, Éva Takács, Tibor Theoretical Economics To model the interaction of fiscal and monetary policy, a novel discrete-time, uncertain, infinite time horizon, dynamic game model is developed, where the uncertainties of expectations are modeled by unknown nonlinear but quadratically constrained deterministic functions. Cost-guaranteeing Nash strategies are defined for fiscal and monetary policy as two players. The model is suitable for comparative analysis of the development paths of catching-up economies. Specifically, we evaluate nine possible development paths for the Hungarian economy, where each path is characterised by a proxy for the debt-to-GDP ratio. |
| title | Evaluation of catch-up paths by an uncertain dynamic game model |
| topic | Theoretical Economics |
| url | https://arxiv.org/abs/2512.15723 |