for 10 EMU countries and for the ECB. The gains from cooperation are calculated by comparing two equilibria, a Nash and a … as a whole with the targets output gap and inflation. In the case of a "full" cooperation, where the 10 EMU countries … manoeuvre of fiscal policy of the EMU member states in stage III of EMU. Secondly, we find that not in all countries cooperation …

-country estimates as point of reference. The empirical results clearly show that policy coordination within the EMU context is very …

show that policy coordination within the EMU context is difficult because of these large country differences and …

for 10 EMU countries and for the ECB. The gains from cooperation are calculated by comparing two equilibria, a Nash and a … as a whole with the targets output gap and inflation. In the case of a "full" cooperation, where the 10 EMU countries … manoeuvre of fiscal policy of the EMU member states in stage III of EMU. Secondly, we find that not in all countries cooperation …

-country estimates as point of reference. The empirical results clearly show that policy coordination within the EMU context is very …

EMU and the euro have been existing for more than seven (almost eight) years. As it is known, EMU –and in particular … of economic policy within EMU in the long-term perspective. For that reason, at the present moment the EU still needs a … inevitable consequence of EMU in the longer term. In general, this study argues that EMU will have a serious impact on the …