paths to aspirational futures or alternatively using pre-mortem techniques to anticipate failure, and role-playing through policy gaming. Regardless of the specific tool employed, strategic foresight offers ways to “learn from tomorrow” ( Édes 2021 ). Strategic foresight has been successfully deployed in different types of organizations to navigate an uncertain future. Governments, international policy institutions, and the private sector use strategic foresight. Recognized scenario-planning pioneers include Shell in the 1970s, which still uses it to evaluate its
nature of the policy game affects the level of inflation and output. In contrast to the previous literature which has focussed on the Nash equilibrium of the policy game, this paper also examines the Stackelberg equilibria, which may be a more accurate depiction of the actual relationship between central banks and government. If the fiscal authority has the superior commitment technology (is the dominant player in the policy game), then the inflation rate is likely to be higher than if the two players move simultaneously (neither’s commitment is superior). If the