Existence of Stable Distributed Lags
稳定分布滞后的存在性
This paper attempts to determine conditions under which distributed lag analysis is appropriate. Results indicate that lag functions are stable and linear under fairly general (but constant) objective criteria and decision constraints as long as the underlying economic environment is characterized by a stationary Gauss-Markov process, and observed environmental variables are Gaussian perturbations of that process. The results appear particularly useful for specifying the lag…