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-cooperative solution yields the best results, the noncooperative solution fares worst and the coalition games lie in between, with a broad … coalition of the fiscally more responsible countries and the central bank against the less thrifty countries coming closest to …
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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
game approach of the endogenous coalition formation literature. The specific policy recommendations in the EMU context …
Persistent link: https://www.econbiz.de/10002572274
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/10001689325
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