This book explores the exchange rate regime choice and the role played by the exchange rate in the economy. Approaching the classification of exchange rate regimes from theoretical, practical and historical perspectives, the book discusses pertinent case studies, including the choice of exchange...

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...

Introduction -- The Model: Description of the Model; A Macroeconomic Model for a Monetary Union; Characterization of the Shocks.-The Model for a Small Monetary Union: Shock Multipliers; Graphical Analysis -- The Model for a Large Monetary Union: Shock Multipliers; Graphical Analysis --...

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 work examines the political economy of exchange-rate policies in the eastward expansion of the eurozone. Analysis shows that prospective members of the EMU are likely to pass on some costs of convergence to the current EMU members. The mechanism is an altered exchange-rate policy that...