Models of Policy under Stochastic Replanning
研究政策由一系列政府制定、政府更替由随机过程决定的环境，在线性理性预期模型的两个版本中追踪更替后果，并给出数值模拟。
This paper considers a policy environment in which policy is not set by a single policymaker, but by a sequence of policymaking administrations. Administration turnover is determined by a simple random process. The consequences of administration turnover are traced through for two versions of a linear rational expectations model, and numerical simulations of various policy environments are presented.