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The Issue of Uncertainty in Economics

In: Foundations for New Economic Thinking

Author

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  • Sheila C. Dow

    (University of Stirling)

Abstract

Policymakers are required to act, even if the action is a continuation of the status quo. The institutional structure within which monetary policy is made requires that a decision be taken at regular intervals as to the repo rate to be set by the central bank. This decision has to be taken on some grounds, and the focus here is on the grounds which economics provides.

Suggested Citation

  • Sheila C. Dow, 2012. "The Issue of Uncertainty in Economics," Palgrave Macmillan Books, in: Foundations for New Economic Thinking, chapter 12, pages 197-209, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-00072-9_12
    DOI: 10.1057/9781137000729_12
    as

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