20.500.12556/RUL-169961 How can the preferences of policy makers be operationalised in optimum control problems with macroeconometric models? a case study for Slovenian fiscal policies In this paper, we use the results of a survey among Slovenian politicians in order to design an objective function for an optimal control problem with a macroeconometric model for fiscal policy in Slovenia that takes account of policy makers’ preferences. The paper discusses three different scenarios in which the policy preferences revealed in interviews can be included in the objective functions of the control problems. These objective functions are then used to calculate optimal fiscal policies for the Slovenian economy until 2030. For this purpose, we utilise the macroeconometric model SLOPOL10 and the OPTCON2 algorithm. The results indicate qualitatively similar behaviour of the optimised dynamic system and a better performance (lower values of the loss due to deviation from “ideal” paths) from a ranking-based approach than from an ad-hoc assumption of policy makers’ preferences. We sketch how to integrate the approach in a decision-support system for macroeconomic policy design. fiscal policy econometrics models Slovenia policy preferences macroeconomics optimum control fiskalna politika ekonometrija modeli Slovenija true false true Angleški jezik Slovenski jezik Članek v reviji 2025-06-26 14:04:23 2026-02-27 13:54:01 2026-02-28 04:43:29 0000-00-00 00:00:00 2024 0 0 Str. 151-169 no. 2 Vol. 48 2024 0000-00-00 Zaloznikova Objavljeno NiDoloceno 0000-00-00 0000-00-00 0000-00-00 330.4:336 2459-8860 10.3326/pse.48.2.2 198699779 blueachhe_weyerstrass_neck_verbic.pdf blueachhe_weyerstrass_neck_verbic.pdf 1 CB302D2CAC44EA9519ED3ECD86D3EC7D 59671e9a7c3cdee6c8eddd98f370a7f6c0c5013c723a6504df15aa51178be26f ac2e8202-5284-11f0-b232-0050569b8976 https://repozitorij.uni-lj.si/Dokument.php?lang=slv&id=211806 https://hrcak.srce.hr/ojs/index.php/pse/article/view/27280 0 e55e3b16-5283-11f0-b232-0050569b8976 https://repozitorij.uni-lj.si/Dokument.php?lang=slv&id=211805 Ekonomska fakulteta 0 0 0