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A Note on Internationally Coordinated Policy Packages Intended to be Robust Under Model Uncertainty

Frankel, J and Erwin, S and Rockett, K (1992) A Note on Internationally Coordinated Policy Packages Intended to be Robust Under Model Uncertainty. UNSPECIFIED. National Bureau of Economic Research Working Papers 3747.

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Abstract

Holtham and Hughes Hallett, and a number of other authors, have suggested that a printout of all 1,000 cases of coordination considered in Frankel and Rockett (1988) should be made available. They wish to check whether, if coordination is restricted to policy packages that they call 'strong' bargains, it would raise welfare a higher percentage of the time. We now make those results available. The results show that if coordination is restricted to packages that are robust with respect to model uncertainty, such as the so-called 'strong' bargains, it does indeed improve the odds in favor of gains from coordination.

Item Type: Monograph (UNSPECIFIED)
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences
Faculty of Social Sciences > Economics, Department of
SWORD Depositor: Elements
Depositing User: Elements
Date Deposited: 12 Jul 2012 11:58
Last Modified: 06 Jan 2022 13:32
URI: http://repository.essex.ac.uk/id/eprint/2837

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