International Economic Policy Coordination

  • Michael Carlberg

Table of contents

  1. Front Matter
    Pages I-XVI
  2. Pages 1-8
  3. The World of Two Monetary Regions: Basic Models

  4. The World of Two Monetary Regions: Intermediate Models

    1. Pages 67-70
    2. Pages 101-107
    3. Pages 108-122
  5. The World of Two Monetary Regions: Advanced Models

  6. The World of Three Monetary Regions

  7. The World of N Monetary Regions

  8. Rational Policy Expectations

  9. Back Matter
    Pages 253-312

About this book


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.


European Monetary Union Fiscal Policy Inflation International Economic Policy International Policy Coordination Monetary Policy Wage Policy

Authors and affiliations

  • Michael Carlberg
    • 1
  1. 1.Department of EconomicsFederal University of HamburgHamburgGermany

Bibliographic information

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