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A change in the legal statute may be able to force an equilibrium if it leads to a new equilibrium which implies some revised belief which sustains the equilibrium. Tirole (1996) developed a model to study group reputation and demonstrated that an anticorruption programme of sufficient duration and severity can play in switching an economy from high corruption with sustained belief it to one with low corruption and sustained belief for it. This shift has wide spread impact on all most all the sectors of the economy.
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Explain the nature &importance of micro economic?
Are there any current subsidy or welfare issues that are being discussed or addressed in parliament or municipalities?
The monetarist and fiscal controversy is still on. The recent history of the U.S. looks like a success story of the monetarists; but besides pure luck, it involved strong element o
Define patronage policy
what is the definition of public debt burden?
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(b) Assess the application of Kaldor’s compensation principle in resolving Pareto non-comparability and explain how the principle differs from the Hick''s compensation principle
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