01937cas a2200241 a 4500 AALejournalIMF010502 230101c9999 xx r poo 0 0eng d 15.00 USD 9781451969160 1020-7635 BD-DhAAL BD-DhAAL International Monetary Fund. Research Dept. IMF Staff papers : Volume 15 No. 3. Washington, D.C. : International Monetary Fund, 1968. 1 online resource (196 pages) IMF Staff Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper focuses on problems of economic policy in terms of targets and instruments. Both the fixed-targets approach and the welfare-economics approach tend to favor a multiplication of policy instruments, the former so as to increase the number of targets that can be attained and the latter so as to permit all objectives to be more closely approximated. It is necessary that policies be centrally coordinated, and in each country, there is a limit to the number of policies that can be successfully coordinated by the political and administrative machine. For this reason, the costs of applying any given policy instrument will depend not only on the degree of its use but also on the number and nature of the instruments already in use. The existence of both kinds of cost, and particularly the latter, will set a limit on the number of policy instruments that can appropriately be brought into operation. Mode of access: Internet IMF Staff Papers; IMF Staff Papers ; No. 1968/003 Full text available on IMF http://elibrary.imf.org/view/journals/024/1968/003/024.1968.issue-003-en.xml IMF e-Library