Abstract
Coordination among national governments as they formulate macroeconomic policies has been proposed as a response to global integration among national markets. Policy coordination may be beneficial by preventing the externalities created by policy spillovers, as well as by promoting international risk sharing. The usefulness of coordination depends upon numerous characteristics of an economy, including the degree of openness in goods and asset markets.
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Bergin, P.R. (2018). International Policy Coordination. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_1939
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DOI: https://doi.org/10.1057/978-1-349-95189-5_1939
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