Front Cover 1
Tinbergen Lectures on Economic Policy 4
Copyright Page 5
Table of Contents 10
Preface 6
Note on the Contributors 8
CHAPTER 1. SIX TINBERGEN LECTURES ON ECONOMIC POLICY 14
1.1 Introduction 14
1.2 On Macroeconometrics, Profitability Macroeconomic Policy 14
1.3 On Privatization, Economic Growth and Monetary Policy 17
CHAPTER 2. TINBERGEN AND THE ROYAL NETHERLANDS ECONOMIC ASSOCIATION 22
2.1 The Royal Netherlands Economic Association 22
2 TINBERGEN'S 1936 ADDRESS TO THE ROYAL NETHERLANDS ECONOMIC 
24 
2.3 Reactions to Tinbergen's Model at the 1936 Annual of the Royal Netherlands Economic Association 28
2.4 Tinbergen's Four Other Addresses to the Royal Economic Association 32
Appendix: Tinbergen's 1936 Model 35
CHAPTER 3. TINBERGEN'S WORK: CHANGE AND CONTINUITY 40
3.1 Introduction 40
3.2 Areas of Tinbergen's Work: Change 42
3.3 Characteristics of Tinbergen's Work: Continuity 55
3.4 Concluding Remarks 62
CHAPTER 4. CARRYING FORWARD THE TINBERGEN INITIATIVE INMACROECONOMETRICS 68
CHAPTER 5. PROFITABILITY AND FACTOR DEMANDS UNDER UNCERTAINTY 88
5.1 An Overview 89
5.2 The Production Function 91
5.3 The Demand Function 92
5.4 Optimal Behaviour 93
5.5 Comparative Statics: The Kinked Demand Curve 94
5.6 Comparative Statics: The Linear Demand Curve 96
5.7 Concluding Comments 100
CHAPTER 6. ON THE THEORY OF MACROECONOMIC POLICY 102
6.1 Jan Tinbergen and the Theory of Policy 102
6.2 Applications in Macroeconomics 103
6.3 Uncertainty about the Effects of Instruments 106
6.4 Pitfalls in Policy Exploitations of Empirical Regularities 107
6.5 Relations between Qualitative and Quantitative Policies 109
6.6 What can Economists say about Policy Objectives? 110
6.7 Concluding Remarks 113
CHAPTER 7. THE PRINCIPLES OF PRIVATIZATION IN EASTERN EUROPE 116
7.1 Introduction 116
7.2 Values 117
7.3 The Transformation's Evolutionary Nature and the Role of the State 122
7.4 Types of Owners 123
7.5 Domestic and Foreign Ownership 136
7.6 The Pace of Privatization 137
CHAPTER 8. POLICIES FOR ECONOMIC GROWTH 140
CHAPTER 9. THE RECENT FAILURE OF US MONETARY POLICY 154
9.1 Targets for Nominal GDP and the Money Stock 156
9.2 Why the Fed was not Aggressive Enough: Managing Short-Term Interest Rates 160
9.3 The Fed's Lack of Direct Control of M2 164
9.4 The New Bank Requirements 165
9.5 Concluding Thoughts 166
Name Index 168