We examine solutions in which neither player is worse off from the leadership of one in a policy maker-public game. The loop model of dynamic games is used. Outcome space is dotted with equivalence classes of solutions. The Dynamic Stochastic General Equilibrium (DSGE) results and their New...

Purpose – The purpose of this paper is to appraise the transition from bank-based systems to universal banking. Design/methodology/approach – The Wynne Godley and Francis Cripps macroeconomic framework is used to structure the argument. Findings – It is shown that the activity of...