Dynamic Modeling of Monetary and Fiscal Cooperation Among Nations

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Springer Science & Business Media, 25 apr 2006 - 324 pagina's

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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Inhoudsopgave

International Policy Coordination
1
Mathematical Background
41
The Basic Symmetric TwoCountry Model
85
An MU Model with Active Monetary Policy
111
Endogenous Coalition Formation Concepts
145
A MultiCountry ClosedEconomy MU Model
197
Accession to a Monetary Union
229
Worldwide Regional Policy Coordination
273
Concluding Remarks
303
Copyright

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Dynamic Modeling of Monetary and Fiscal Cooperation Among Nations
Joseph E.J.K Plasmans,Jacob Engwerda,Bas van Aarle,Giovanni di Bartolomeo,Tomasz Michalak
Geen voorbeeld beschikbaar - 2010

Veelvoorkomende woorden en zinsdelen

accession adjustment agreement Algorithm analysis assumed assumption asymmetric asymmetric shock called central bank Chapter coalition formation coalition structure common compared competitiveness Consequently consider cooperation corresponding cost countries create currency Definition denoted determine deviation dynamic economic ects eigenvalues equal equation equilibrium erent European Example exchange rate exists externalities fact feasible first fiscal fiscal players fiscal policies function Hence implies important increase inflation initial institutional interest introduce issues Italy join losses macroeconomic matrix mechanisms monetary and fiscal monetary policy monetary union Moreover negative non-cooperative Note obtained optimal outcome output parameters partial particular play policy coordination policymakers positive possible preferences present problem proposal question reduced regime respectively restrictive result rules scenario shock situation solution spillovers stabilization stage Step strategy Table vector welfare

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Over de auteur (2006)

Joseph Plasmans is a Professor at the Department of Economics of the University of Antwerp and an extra-ordinary professor at the Department of Econometrics and Operations Research at Tilburg University. He obtained his Ph.D. in Economics at Tilburg University in 1975. He is also Research Fellow at the CESifo institute in Munich. His major research interests include econometrics, multi-country modelling, dynamic games, European integration policies, transition economies, intangible investments and innovation strategies.

Jacob Engwerda is an associate Professor at the Department of Econometrics and Operations Research of Tilburg University. He obtained his Ph.D. in Mathematics from Eindhoven University of Technology in 1988. His major fields of interests are systems and control theory with applications on economics.

Bas van Aarle is an assistant Professor at the University of Maastricht since 2005. Previously, he was employed at the K.U. Leuven. He obtained a Ph.D. in Economics from Tilburg University in 1996. His research interests are multi-country modelling, European integration policies and transition economies.

Giovanni Di Bartolomeo is an assistant Professor of Economic Policy at the University of Rome "La Sapienza" since 2002. Previously, he has been employed at the University of Antwerp for two years. He holds a Master of Science in Economics and Finance from the University of Barcelona Pompeu Fabra and a Ph.D. in Economics from the University of Rome "La Sapienza". He is interested in economic Policy, European Integration and labour markets.

Tomasz Michalak is a research assistant at the Department of Economics of the University of Antwerp since 2003. He holds a Master of Science in International Economics from the University of Warsaw. His research interests are game theory, endogenous coalition formation, international macroeconomics, monetary economics and programming.

Bibliografische gegevens

TitelDynamic Modeling of Monetary and Fiscal Cooperation Among Nations
Volume 8 van Dynamic Modeling and Econometrics in Economics and Finance
AuteursJoseph E.J.K Plasmans, Jacob Engwerda, Bas van Aarle, Giovanni di Bartolomeo, Tomasz Michalak
Editiegeïllustreerd
UitgeverSpringer Science & Business Media, 2006
ISBN0387279318, 9780387279312
Lengte324 pagina's
  
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