I. Proper timing is necessary in order for countercyclical macropolicy to be stabilizing. Our inability to forecast

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I. Proper timing is necessary in order for countercyclical macropolicy to be stabilizing.

Our inability to forecast the future, delays in the adoption of macropolicy, and the time lag between the institution of a policy change and the exertion of its major effects all complicate the timing of discretionary macropolicy. Thus, proper timing of macropolic;

is not easy even when stabilization is the major goal of the policy planners.

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Economics Private And Public Choice

ISBN: 9780123110404

2nd Edition

Authors: James D Gwartney; Richard Stroup; A H Studenmund

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