The macroeconomy has a long-run equilibrium natural rate of unemployment and GDP from which unanticipated counter-cyclical policy can scarcely nudge the economy.
FORBES: Thomas Sargent, Rational Expectations And The Keynesian Consensus
There are those, however, who should know better than most about the ongoing seriousness of the threat, among them those lawmakers tasked specifically with the formulation and oversight of counter-terrorism policy.
With his visit to London this week to meet Britain's Tony Blair, Mr de Villepin has also begun to reappropriate France's counter-terrorism policy from his ambitious interior minister, who is none other than Mr Sarkozy.
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Counter to Tory policy nationally, Wiltshire councillors agreed to abolish four district councils and merge into one unitary authority - saving a fortune in bureaucracy but cutting a deal with the then Labour government that none of its central funding would be reduced.
The Fed is conducting monetary policy to counter high unemployment and possible deflation.
In any case, if counter-cyclical fiscal policy is to work, speed is crucial.
The acceleration of retail sales, especially in credit-sensitive sectors, runs counter to what monetary policy makers said in their decision to cut rates last month.
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"An uncertain economic outlook, and the inadequacy of policy to counter this, has weakened aggregate demand, holding back investment and hiring, " ILO director general Guy Ryder said.
This approach may yet prove to be a hindrance in the future, particularly if proposed deals are seen as objectionable or somehow run counter to stated government policy.
There are simply too many policy inconsistencies and counter-pressures, not the least of which is the common sense of the American people and their representatives in Congress.
That is why there is a respectable case for using fiscal policy actively to counter the downturn, since that will increase demand directly, either through tax cuts or higher public spending.
Gold provides a counter-weight keeping monetary policy honest.
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To date, inflation expectations appear to have remained reasonably well anchored, but any tendency of inflation expectations to become unmoored or for the Fed's inflation-fighting credibility to be eroded could greatly complicate the task of sustaining price stability and reduce the central bank's policy flexibility to counter shortfalls in growth in the future.
He added that inflation was running below the Fed's long-term target of 2% and said current monetary policy was helping to counter "incipient deflationary pressures".
The problem, at least for now, is that the U.S. policy direction is running counter to what causes economies to grow, and this is driving the talk of a new, austere future.
To get the approvals, King promised verbally not to promote AtroPen until the FDA's neuropharmacological drug products division had a chance to assess the policy implications of distributing counter-terror drugs and look at and comment on the AtroPen marketing materials.
Chevron's activities in Angola -- which run counter to U.S. foreign policy objectives -- do not inspire confidence in this company's judgment or its concern about the national interest.
And the European Central Bank (ECB) should counter the fiscal austerity with a looser monetary policy.
So Mr Williamson's plan sits best with the view that fiscal policy should also have a strong counter-cyclical role.
U.S. foreign policy makers have been misguided in counter terrorism strategies in the past by failing to calculate ideology and the internal rhetoric of transnational organizations.
Counter terrorism analysts and U.S. foreign policy makers must use the rhetoric of these revolutions as context for the formation of their own strategies.
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In a major speech outlining Labour's economic policy, he said acting now to counter the slowdown was a better option than just "hoping for the best".
The basic policy conclusion of the rational expectations hypothesis is that counter-cyclical monetary and fiscal policies affect real GDP and unemployment only if they are unanticipated.
FORBES: Thomas Sargent, Rational Expectations And The Keynesian Consensus
Indian policy makers believed the boom was locally manufactured and tried to counter the global downturn in 2008 by launching a sizeable fiscal and monetary stimulus.
WSJ: Ruchir Sharma: India's Cycle of Recklessness and Reform
Once countries can no longer use monetary policy to moderate national highs and lows in economic activity, fiscal policy will need to assume a greater, nationally differentiated, counter-cyclical role.
"The danger now is that rising food world prices and energy prices will lead to excessively tight monetary policy", it says, as the government seeks to counter the rise by "squeezing domestic costs".
Michael Fauntroy, a public policy professor at George Mason University, says the president has to counter this prevailing assumption among blacks.
Even minor policy resonated with me, like making emergency contraception available over the counter, something I had argued for as a 16-year-old Planned Parenthood volunteer.
The Bush years have seen the rise of a Democratic counter-establishment set up largely in opposition to Mr Bush's assertive foreign policy.
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