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-FX correlations. I find that a negative tone in central banks’ communication results to a lower stock-bond correlation, which supports … the flight to quality phenomenon in both US and Euro area. In contrast, results for stock-FX correlation are mixed. Fed …
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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
Persistent link: https://www.econbiz.de/10001921439
Persistent link: https://www.econbiz.de/10001873861
policy. We show that this game results, either in the formation of a unique stable coalition between the Bank and certain …
Persistent link: https://www.econbiz.de/10013101879
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