Monetary and fiscal policy switching.

Two THEMES RUN through policy analysis: rules determining policy choice are functions of economic conditions; those rules may change over time. The themes reflect the views that actual policy behavior is purposeful, rather than arbitrary, and that good policy adapts to changes in the structure of the economy or to improvements in understanding how policy affects the economy.

A growing body of evidence finds that policy reaction functions vary substantially over different periods in the United States. In light of this evidence of regime shifts, which is reviewed in Section 1, it is surprising that there is little formal modeling of environments where ongoing regime change is stochastic, and the objects subject to change are parameters determining how the economy feeds back to policy choice.

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Wealth Management and Monetary Planning

Wealth management can be referred to as an advanced discipline relating to advice in terms of investment which incorporates specialist monetary services and financial planning. The main objectives are providing families dealing with services in retail banking, legal resources, investment management, and taxation advice goals to sustain and grow long-term wealth. Monetary planning can help the individuals who are accumulating wealth or have already done so.

Wealth management can be exemplified through self-governing advisors or huge corporate entities such as Citigold of Citibank and the other extensions regarding services relating to retail banking designed for focusing on customers dealing with retail worthy of high nets. Customers of such type are likely to be categorized as ‘upper retail’ or ‘mass affluent’ clients owing to net worth of theirs, potential products owned by them from bank, assets of their under management, and many other segmentation methods.

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Value Oriented Education

There is a profound Indian view about teaching which declares that the first principle of teaching is that nothing can be taught. This paradoxical statement may seem at first sight incomprehensible. But when we look closely into it, we find that it contains a significant guideline regarding the methodology of teaching. It does not prohibit teaching, since it is stated to be the first principle of teaching. It does, however, suggest that the methods of teaching should be such that the learner is enabled to discover by means by his own growth and development all that is intended to be learnt. It points out, in other words, that the role of the teacher should be more of a helper and a guide rather than that of an instructor. This would also mean that the teacher should not impose his views on the learner, but he should evoke within the learner the aspiration to learn and to find -out the truth by his own free exercise of faculties.

The truth behind this role of the teacher is brought out by the contention that nothing can be taught to the mind which is not already concealed as potential knowledge in the inmost being of the learner. One is reminded of the Socratic view that knowledge is innate in our being but it is hidden. Socrates demonstrates in the Platonic dialogue, ‘Meno’, how a good teacher can, without teaching, but by asking suitable questions, bring out to the surface the true knowledge which is already unconsciously present in the learner. As we know, Socrates and Plato distinguished between opinions, on the one hand, and knowledge, on the other. They point out that whereas opinions can be formed on the basis of questionable sense-experiences, knowledge which consists of pure ideas is independent of sense-experience and can be gained by some kind of experience which is akin to remembrance. In other words, according to Socrates and Plato, knowledge is”remembered” by a process of uncovering.

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