| Abstract: | This paper attempts to develop a multiobjective model to help policy-makers choose the most appropriate mix of economic policies concurrent with the elimination of serious gaps. Each individual policy attempts to achieve a specific goal or a set of subgoals; but it may hinder the achievement of some other subgoals. To differentiate between the importance of different objectives, the analyst assigns different priorities to each of the given set of subgoals. Three sets of results are provided by three separate computer runs of this model. Each set of results corresponds to one of the three priority structures, and each run indicates quite differing underachievements or over-achievements of individual subgoals. A detailed explanation for each of these deviations (gaps) from the targeted subgoals is attempted in an overall framework and some interactions between various gaps (savings gaps, foreign exchange gap, domestic growth gap, GNP gap, etc.) are also identified. |
