and uncertainty? We build a model where countries disagree on policy targets and how policies affect the economies, and … show that uncertainty not only determines the type of cooperative policy but also whether countries want to cooperate at … all. Countries facing larger model disagreement also need to face larger uncertainty with respect to policy spillovers to …

and firms learn about the policy regime using historical data. Regime uncertainty substantially narrows, relative to a … need for policy coordination: the specific choice of monetary policy limits the set of fiscal policies consistent with …-Ricardian fiscal policies combined with an interest rate peg promote stability. Resolving uncertainty about the prevailing monetary …

and firms learn about the policy regime using historical data. Regime uncertainty substantially narrows, relative to a … need for policy coordination: the specific choice of monetary policy limits the set of fiscal policies consistent with …-Ricardian fiscal policies combined with an interest rate peg promote stability. Resolving uncertainty about the prevailing monetary …

the policy regime using historical data. Regime uncertainty substantially narrows, relative to a rational expectations … policy regime, there is greater need for policy coordination: the specific choice of monetary policy limits the set of fiscal … uncertainty about the prevailing monetary policy regime improves stabilization policy, enlarging the menu of policy options …

It is widely argued that Europe's unified monetary policy calls for the international coordination at the fiscal level …. We survey the issues involved with such coordination of fiscal policy as a demand management tool and we use a simple … model to investigate the cincumstances under which coordination may be desirable. It turns out that coordination is …

leverage constraint. Coordination between monetary and macro-prudential policies helps to reduce the risk of entering into a … financial crisis and speeds up exit from the crisis. The downside of coordination is variability in inflation and in the …