Determine the term uncertainty - policy process, Business Law and Ethics

Assignment Help:

Determine the term Uncertainty - Policy process

We know that uncertainty is one of main influencing factor in policy process and especially in coordination of economic policies. With government's using different models they may be unable to agree on the most appropriate agreement, and negotiations may break down. This may involve two separate aspects. First, governments may view all the available models as being essentially plausible, and so base their policy proposals on some weighted average of their forecasts. Second, they may actively seek to learn which model, if any is true. This will involve governments updating their beliefs about the true economic model using their observations of macroeconomic variables. Given these responses to model uncertainty the performance of economies with coordinated, rather than uncoordinated, policies improves substantially. Indeed such arguments may actually reverse Frenkel and Rockett's conclusions and suggest that the case of cooperation is strengthened given the presence of model uncertainty.

 


Related Discussions:- Determine the term uncertainty - policy process

Explain about the international commission of united nations, Explain about...

Explain about the international commission of United Nations. The International Law Commission: Established into 1948 year, the mandate of International Law Commission is

Determine the schemes of michael mandelbaum, Determine the schemes of Micha...

Determine the schemes of Michael Mandelbaum Michael Mandelbaum has offered a two fold scheme, the inside-out and outside-in approach. According to inside-out approach, a natio

Publication of list of repeat offenders, Q. Publication of list of repeat o...

Q. Publication of list of repeat offenders ? As a part of the joint education campaign option, or separate to the education campaign, a ‘naming and shaming' approach could also

Government optimal long run policy - nash equilibrium, Government optimal l...

Government optimal long run policy - Nash equilibrium The government's optimal long run policy is associated with policy coordination at point C. However, as in the static mod

Determine about the opportunistic policy cycle, Determine about the Opportu...

Determine about the Opportunistic policy cycle We now turn back once again to study the behaviour of the decision maker who, ultimately wants to return to the office in future.

What was the immunity from jurisdiction, WHAT WAS THE IMMUNITY FROM JURISD...

WHAT WAS THE IMMUNITY FROM JURISDICTION   States are recognized as having authority over people, things and events within their own territory and therefore may exercise jurisdict

Terms used in contract, Terms used in Contract However there are certa...

Terms used in Contract However there are certain terms may identify conditions and warranties like are implied into every contract covered through the Sale of Goods Act where

Reservation of name, Reservation of Name:                             ...

Reservation of Name:                             To obviate the risk of choosing a name that ultimately turns out to be undesirable, the promoters should enquire from the regi

Change of name - name clause, Change of Name: A company's name may be ...

Change of Name: A company's name may be changed voluntarily or compulsorily (a)   Voluntary Change A company's name may be changed voluntarily: i. Under s.2.1 if a sp

Statutes of general application - subsidiary legislation, Statutes of Gener...

Statutes of General Application: Whereas there is no authoritative definition of a "statute of simple application" the phrase is presumed to refer to those statutes that appli

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd