What Are Some of the Lessons in Policymaking and Macroeconomic

question 17

Essay

What are some of the lessons in policymaking and macroeconomic analysis that have emerged after the crisis? Discuss.

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Definitions:

Distribution Games

Games used to study how individuals allocate resources or rewards between themselves and others.

Performance

The act of carrying out a task or function, often measured against pre-established standards such as speed, accuracy, or efficiency.

Audience

The person or group receiving a message.

Social Facilitation Theory

The theory that the presence of others increases a person’s dominant response—that is, the response that is most likely for that person for the task at hand.