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Dynamic Modeling of Monetary and Fiscal Cooperation Among Nations
Title:
Dynamic Modeling of Monetary and Fiscal Cooperation Among Nations
Author:
Plasmans, Joseph. author.
ISBN:
9780387279312
Personal Author:
Physical Description:
XVI, 324 p. online resource.
Series:
Dynamic Modeling and Econometrics in Economics and Finance, 8
Contents:
International Policy Coordination -- Mathematical Background -- The Basic Symmetric Two-Country Model -- An MU Model with Active Monetary Policy -- Endogenous Coalition Formation Concepts -- A Multi-Country Closed-Economy MU Model -- Accession to a Monetary Union -- World-wide Regional Policy Coordination -- Concluding Remarks.
Abstract:
Dynamic Modeling of Monetary and Fiscal Cooperation Among Nations analyzes coordination of monetary and fiscal stabilization policies between countries and currency areas using a dynamic game approach. The first four chapters introduce the reader to the dynamics of fiscal and monetary policy cooperation. Issues covered include: fiscal coordination, fiscal stringency requirements, structural and bargaining power asymmetries and the design of monetary and fiscal policymaking in a monetary union. In the four last chapters multiple-player settings with aspects of fiscal and/or monetary coordination are analyzed using the endogenous coalition formation approach. The analysis is focused on shock and model asymmetries and issues of multi-country coordination in the presence of (possibly many) monetary unions.
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