. We use a microfounded New Keynesian model of a monetary union which incorporates persistence in inflation, and examine … non-cooperative interactions of fiscal and monetary authorities. We find that particularly when inflation is persistent …

This book studies the coexistence of inflation and unemployment in a monetary union. The focus is on how to reduce the … associated loss. The primary target of the European central bank is low inflation in Europe. The primary target of the German … inflation and unemployment? Is monetary and fiscal cooperation superior to the sequential process of monetary and fiscal …