A closer look, however, suggests that a rules-based approach is superior. 1  A good monetary policy rule specifies a plan of action which the central bank cannot later ignore, while discretion allows central bankers to reactâand often overreactâto economic indicators as they see fit.
A syntax error is an error in commands. For example, the following command: dir (path) which displays a directory in a Windows Command Prompt. The following, dir c:/windows/system32 would show the contents of the Windows/system32 directory in the C: drive.
3) Design errors. The code is correct and bug-free and does exactly what you've intended. But your intentions are wrong, e.g. based on wrong assumptions, wrong models, or you've used the wrong formulars, misunderstood the customer, or such.