Uncertainty and the effectiveness of policy

The first two sections of this article discuss the implications of uncertainty in response to policy actions for the selection of optimal economic policy. Optimal policy in the presence of this type of uncertainty is found to differ significantly from optimal policy in a world of certainty. For exam...

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Bibliographic Details
Main Author: Brainard, William
Format: Book
Published: Stanford, Calif. American Economic Association May 1967
Series:American Economic Review n. 2
Subjects: