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This paper studies the interactions between monetary and fiscal policies in the euro area. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on competition between the European central bank, the American...
Persistent link: https://www.econbiz.de/10003376950
The belief that the ECB follows the US Federal Reserve in setting its policy is so entrenched with market participants and commentators that the search for empirical support would seem to be a trivial task. However, this is not the case. We find that the ECB is indeed often influenced by the...
Persistent link: https://www.econbiz.de/10002658281
This article does an empirical analysis on China's economic coordination and deflator coordination during 1953-1978 and … 1979-2005. Firstly, we have introduced the concepts of the coordination theory and coordination coefficient. Secondly, we … have defined the models of economic coordination coefficient and deflator coordination coefficient for seven main …
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need for policy coordination: the specific choice of monetary policy limits the set of fiscal policies consistent with …
Persistent link: https://www.econbiz.de/10012769881