policy in countries that share the same currency. In contrast with the previous literature which assumes coordination, this … paper analyzes the case where coordination lacks among fiscal authorities as well as between fiscal and monetary authorities … economy because it has to take into account the distortions caused by the lack of coordination among fiscal policymakers. At …

This paper investigates the macroeconomic implications of different regimes of international fiscal coordination and … stability, we show that coordination among national fiscal authorities can reduce output and inflation volatility relative to … global coordination, namely when a centralised fiscal stabilisation is coordinated with the common monetary policy as well …

In this paper, we analyze coordination of macroeconomic stabilization policies within the EMU by focusing, in a dynamic …

This paper studies the institutional design of the coordination of macroeconomic stabilization policies within a … coordination or full policy coordination is desirable. When asymmetric shocks are considered, fiscal coordination improves the … performance but full policy coordination doesn't produce further gains in policymakers' welfare …

In this paper, we analyze coordination of macroeconomic stabilization policies within the EMU by focusing, in a dynamic …

, financial, and political arenas. Apart from the eurozone crisis and global monetary policy issues, for nearly two years all else … divergence and political and social discord across member-states. Given the scale and scope of the eurozone crisis, policy and … become more homogenized, synchronized, and directionally clear than at any time since early 2009. -- Eurozone ; Monetary …