CONTROLLABILITÀ E TEORIA DELLA POLITICA ECONOMICA

The aim of this paper is to examine the problems posed by the controllability of dynamic economic systems, and thus to identify their implications for economic policy. The paper begins by analysing the condition that assures the controllability of a static system and goes on illustrating the main differences between complete controllability and perfect controllability. In this way we can restate the validity of the generalization of Tinbergen's condition for dynamic economic systems, as proposed by Aoki. In this particular case new problems arise for policy makers owing to the fact that in dynamic decision models the number of instruments must be equal to the number of target variables.