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Persistent link: https://www.econbiz.de/10003358981
The interaction of monetary and fiscal policies is a crucial issue in a highly integrated economic area as the European Union. We argue that EMU, which introduced a common monetary policy and restrictions on fiscal policy at the national level, increases the need for macroeconomic policy...
Persistent link: https://www.econbiz.de/10011398097
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...
Persistent link: https://www.econbiz.de/10011410410
Persistent link: https://www.econbiz.de/10001684631
This paper studies the institutional design of the coordination of macroeconomic stabilization policies within a monetary union in the framework of linear quadratic differential games. A central role in the analysis plays the partitioned game approach of the endogenous coalition formation...
Persistent link: https://www.econbiz.de/10002572274
This paper studies the institutional design of the coordination of macroeconomic stabilization policies within a monetary union in the framework of linear quadratic differential games. A central role in the analysis plays the partitioned game approach of the endogenous coalition formation...
Persistent link: https://www.econbiz.de/10002658217
Persistent link: https://www.econbiz.de/10001717207
The EMU is an highly integrated economic area where externalities occur. Therefore, in this context interaction of monetary and fiscal policies is a crucial issue. This paper focuses on how coalitions among policy-makers are formed and what are their effects on the stabilization of output and...
Persistent link: https://www.econbiz.de/10001694356
Persistent link: https://www.econbiz.de/10001636261
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