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One of these is deregulator or privatization of public enterprises or utilities. Deregulation is a world wide phenomenon. But experience of power failure in California and Mumbai r
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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Draw a simple circular flow of income model for a private sector economy. Label all of the flows, as well as the markets where all exchanges take place. Describe the exchanges, a
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)
In the wake of the Asian financial crisis, policymakers, governments, and academics around the world are busy devising ways to reform the global financial architecture. The plethor
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Mr. X enters into a contract with Mr. Z under which Z agreed to build a customized telescope for X for $500. The value of the completed telescope to X will be $600. Expecting that
Pigovian Analysis The starting point of the Pigovian welfare analysis is the notion that there is a resource allocation problem that can be optimally solved. Through hi
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