In this paper, we analyze coordination of macroeconomic stabilization policies within the EMU by focusing, in a dynamic set-up, on asymmetries, externalities, and the existence of a multi-country context. We study how coalitions among fiscal and monetary authorities are formed and what are their...

Dynamic Modeling of Monetary and Fiscal Cooperation Among Nations analyzes coordination of monetary and fiscal stabilization policies between countries and currency areas using a dynamic game approach. The first four chapters introduce the reader to the dynamics of fiscal and monetary policy...

Some Basic Models -- Monetary Policy in Europe -- Fiscal Policy in Germany -- First the Central Bank Decides, then the Governments Decide -- First the Governments Decide, then the Central Bank Decides -- Central Bank and Governments Decide Simultaneously and Independently: Cold-Turkey Policies...

Studies the interactions between monetary and wage policies in the euro area. This book discusses the process of policy competition and the structure of policy cooperation. It also features numerical simulations of policy competition and numerical solutions to policy cooperation

This is what we've all been waiting for - a book that demystifies the European community's monetary union. Unlike other books, this one provides readers with a practical yet sophisticated grasp of the macroeconomic principles necessary to understand a monetary union. The most important case in...