Showing 1 - 8 of 8
This paper discusses the scope, methods, the effects of international coordination of economic policies. In addressing the scope for and of coordination, the analysis covers the rationale for coordination, barriers to coordination, the range and specificity of policies to be coordinated, the...
Persistent link: https://www.econbiz.de/10005830713
Effects of different policy rules are simulated: uncoordinated targeting of the money supply or nominal income, use of monetary policy to achieve coordinated targets for nominal or real exchange rates, and the use of monetary and fiscal policies to hit targets for internal and external balance....
Persistent link: https://www.econbiz.de/10005777935
Free movements of goods and capital across national borders have important implications for both direct and indirect taxation. The paper discusses the following issues: (a) The implications of different treatments of resident capital income originating abroad and nonresident capital income...
Persistent link: https://www.econbiz.de/10005580593
An open economy portfolio balance model, describing allocation among money, a domestic bond, and a traded foreign currency bond is developed for a world of many countries. A special role is attributed to the dollar, namely that all internationally traded bonds are denominated in that currency....
Persistent link: https://www.econbiz.de/10005720716
Standard models of policy credibility. defined as the expectation that an announced policy will be carried out. emphasize the preferences of the policymaker (his "type") and the role of policies in signaling type. Whether a policy is carried out. however. should also reflect the state of the...
Persistent link: https://www.econbiz.de/10005778164
This paper addresses several fundamental issues raised by recent developments in the world economy and considers their implications for the design and functioning of the international monetary system. We do not make any proposals. The four issues examined in the paper are: (1) Can the exchange...
Persistent link: https://www.econbiz.de/10005718515
This paper identifies key issues surrounding the advisability and practicality of adopting "target zones" for the exchange rates of major currencies. Pour fundamental questions concerning the definition of and the rationale for target zones are addressed: first, what is generally meant by a...
Persistent link: https://www.econbiz.de/10005777590
In this paper, we analyze several proposals for reducing the volatility and/or misalignment of key-currency exchange rates. The proposals examined are a system of target zones, the imposition of controls or taxes on international capital flows, and a strengthening of international coordination...
Persistent link: https://www.econbiz.de/10005777748