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...

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...

The effectiveness of carbon pricing as a market-based policy tool with economy-wide transformation potential has increasingly rendered it the instrument of choice among policy makers responding to challenges posed by climate change. However, the potential for jurisdictions to introduce carbon...