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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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According to most academics and policymakers, transparency in monetary policymaking is desirable. I examine this proposition in a small theoretical model emphasizing forwardlooking private sector behavior. Transparency makes it easier for price setters to infer the central bank's future policy...
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According to most academics and policymakers, transparency in monetary policymaking is desirable. I examine this proposition in a small theoretical model emphasizing forward-looking private sector behavior. Transparency makes it easier for price setters to infer the central bank's future policy...
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