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Let us now consider a situation in which we know the timing of a change in policy but are unsure about the composition of the future policy. The association of different policy compositions with different initial conditions, in such cases, forms the basis for accessing maintains policy composition or policy mix. To find the end point of this dynamic policy process, we consider whether and how, the policy out come jump over the terminal surface corresponding to that policy mix, but it is feasible once a policy composition is announced. Theoretically speaking, the terminal values map down the entire process.
Q. Why does government undertake an economic activity? If ever an activity has large externality or spill over and includes a large number of people, it may be found better th
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We live in a globalized world economy. Our policy agenda, as we have discussed earlier have changed enormously to include environment, humanity in general as well as the conventio
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