is the third such educational game produced by the ECB and the Eurosystem NCBs, after the 2010 launch of conomia The Monetary Policy Game
and Inflation Island .
Analysts, advisors, and decision-makers seeking to "up their level of play" in the public policy game
to add value to governments and society will find this book of value.
Meanwhile, there is no doubt that the development community is nervous that their lifelong effort to preserve independence from the military and the perennially short-term foreign relations policy game
may be coming to a close.
On the other hand, here we find, using a natural multieconomy extension of a monetary policy game
model with solid microfoundations, that although a government's monetary policy generates externalities on another economy through its impact on the exchange rate, there are situations in which the benefits of exploiting that externality are exceeded by the costs.
Is Mr Brown playing the policy game
that politicians, especially New Labour, seem all too willing to have adopted in recent times - present a policy through selected, friendly media and see what the response is before pushing it through or quietly shelving it?
The policy game
literature has shown that delegation to the conservative central bank secures a welfare outcome, which is preferable to either discretion or the use of non-contingent rules (such as zero inflation): see Rogoff (1985).
Hamas, not knowingly, perhaps, has abruptly deprived Washington of its last card in a Middle East foreign policy game
, which was already in tatters.
Next it derives two response functions for policy makers and discusses the rules of the policy game
Moreover, when it comes to picking his numbers for the policy game
, he relies on dream interpretation because "he was much too shrewd to trust such a small thing as numbers to fortune tellers, spiritualists, and the like; these people were consulted only in case of a deep, life-and-death crisis (45).
Goodness knows where the policy game
will have got to after 12 long months.
North Korea, South Korea and Taiwan are also players in the foreign policy game
in Northeast Asia" within a triangular leadership consisting of Japan, China and the U.
For example, consider the issue of the transition to a non-activist monetary rule within a Barro-Gordon policy game