Friday, June 22, 2012

so it is to be a value added warrant market after all

yes there enters short term ambiguity how much of a firms period VA is price change and how much sold  output change  remains uncertain
and of course  the overall system's VA  ( TVA)
   shares this dP / dQ   uncertainty
but remember its hooked into a policy  smart path

   the dQ target this period is an automatic  function of a maximal jobs calculation
which is very unlikely to see quick flux
in as much as the target dP implicit in a paine rule reflects
 the gap between  Tq real and Q desired thru target path for jobs  (N)


now the policy response is explicit and publicly known
   and determined automatically by the real state of the targeted variable
again uncertainty is met by feed back
this is a process well understood by all agents
more later