affects its policy decision. We show that the learning process gives rise to coordination motives among speculators leading to …

. Coordination among speculators is sometimes desirable for price informativeness and investment efficiency, but speculators … coordination among speculators and study policy measures that affect patterns of coordination to improve price informativeness and …

We analyse the effect of trade spillovers and of international coordination on currency crises. To do this, we present … and the larger the set of multiple equilibria. Coordination decreases the possibility of simultaneous self …-fulfilling speculative crises in the region and reduces the set of multiple equilibria. However, regional coordination, even though welfare …

This paper investigates the desirability of international fiscal policy coordination in the presence of a domestic … deficits. International coordination can exacerbate this bias, and thus reduce social welfare at home and abroad. The reason is … that international coordination enables the domestic and foreign governments to form a coalition that excludes future …

coordination. This paper examines these fluctuations from a European perspective and suggests five conclusions. First …

the literature has taken since. As a central challenge, I identify the need to provide a formal theory of the firm in …

, which must be adapted to a privately observed shock and coordinated with other tasks. Coordination requires that agents pay … leadership naturally arise as a response to organizational trade-offs between coordination and adaptation. At the optimum, all …