International Economic Policy Coordination
This book studies the international coordination of monetary and fiscal policies in the world economy. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on monetary and
- PDF / 11,137,070 Bytes
- 318 Pages / 439.37 x 666.142 pts Page_size
- 2 Downloads / 263 Views
Michael Carlberg
International Economic Policy Coordination With 94 Tables
4y Springer
Professor Dr. Michael Carlberg Federal University of Hamburg Department of Economics Holstenhofweg 85 22043 Hamburg Germany [email protected]
Cataloging-in-Publication Data Library of Congress Control Number: 2004118032
ISBN 3-540-24445-X Springer Berlin Heidelberg New York This work is subject to copyright. All rights are reserved, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilm or in any other way, and storage in data banks. Duplication of this publication or parts thereof is permitted only under the provisions of the German Copyright Law of September 9, 1965, in its current version, and permission for use must always be obtained from Springer-Verlag. Violations are liable for prosecution under the German Copyright Law. Springer is a part of Springer Science-t-Business Media springeronline.com © Springer Berlin • Heidelberg 2005 Printed in Germany The use of general descriptive names, registered names, trademarks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. Hardcover-Design: Erich Kirchner, Heidelberg SPIN 11380306
42/3153-5 4 3 2 1 0 - Printed on acid-free paper
Preface
This book studies the international coordination of monetary and fiscal policies in the world economy. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on monetary and fiscal competition between Europe and America. Similarly, as to policy cooperation, the focus is on monetary and fiscal cooperation between Europe and America. The spillover effects of monetary policy are negative while the spillover effects of fiscal policy are positive. The policy targets are price stability and full employment. The policy makers follow either cold-turkey or gradualist strategies. Policy expectations are adaptive or rational. The world economy consists of two, three or more regions. The present book is part of a larger research project on European Monetary Union, see the references at the back of the book. Some parts of this project were presented at the World Congress of the International Economic Association in Lisbon. Other parts were presented at the International Institute of Public Finance, at the Macro Study Group of the German Economic Association, at the Annual Meeting of the Austrian Economic Association, at the Gottingen Workshop on International Economics, at the Halle Workshop on Monetary Economics, at the Research Seminar on Macroeconomics in Freiburg, and at the Passau Workshop on International Economics. Over the years, in working on this project, I have benefited from comments by Iain Begg, Michael Brauninger, Volker Clausen, Valeria de Bonis, Peter Flaschel, Wilfried Fuhrmann,
Data Loading...
