Dynamic Modeling of Monetary and Fiscal Cooperation Among Nations
| By: | Joseph E.J.K Plasmans; Jacob Engwerda; Bas van Aarle; Giovanni di Bartolomeo; Tomasz Michalak |
| Publisher: | Springer Nature |
| Print ISBN: | 9780387278841 |
| eText ISBN: | 9780387279312 |
| Edition: | 0 |
| Copyright: | 2006 |
| Format: | Page Fidelity |
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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.