need for policy coordination: the specific choice of monetary policy limits the set of fiscal policies consistent with …

This paper examines issues in the current debate over coordination between fiscal and monetary policies. Section I1 … uses the traditional targets-instruments approach to assess the potential gains from greater coordination. Since greater … coordination is often equated with looser money and tighter fiscal policy, two econometric models of the economy are used to …

effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the …

After a 30-year absence, calls for international coordination of macroeconomic policy are back. This time the issues go … by names like currency wars, taper tantrums, and fiscal compacts. In traditional game theory terms, the existence of …-cooperative equilibrium. But what is the nature of the spillover and the coordination? The paper interprets recent macroeconomic history in …

disasters. When the probability of a disaster is high enough, the coordination game becomes like a prisoner's dilemma situation …