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Michael Carlberg 
Dynamic Policy Interactions in a Monetary Union [PDF ebook] 

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This book studies the dynamics of monetary and fiscal interactions in the Euro Area. The policy makers are the European Central Bank and national governments. The primary target of the ECB is low inflation. And the primary target of a national government is low unemployment. However, there is a short-run trade-off between low inflation and low unemployment. Here the main focus is on sequential policy decisions. Another focus is on simultaneous and independent policy decisions. And a third focus is on policy cooperation. There are demand shocks, supply shocks, and mixed shocks. There are country-specific shocks and common shocks. The key question is: Given a shock, what are the dynamic characteristics of the resulting process?

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Table des matières

Some Basic Models.- Monetary Policy in Europe.- Fiscal Policy in Germany.- First the Central Bank Decides, then the Governments Decide.- First the Governments Decide, then the Central Bank Decides.- Central Bank and Governments Decide Simultaneously and Independently: Cold-Turkey Policies.- Central Bank and Governments Decide Simultaneously and Independently: Gradualist Policies.- Central Bank and Government Cooperate.- Appendix.- Conclusion.- Result.- The Current Research Project.

A propos de l’auteur

Michael Carlberg is Professor at Helmut Schmidt University in Hamburg, Germany. His research is on Macroeconomics, Monetary Economics, and International Economics.

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Langue Anglais ● Format PDF ● Pages 347 ● ISBN 9783642182280 ● Taille du fichier 1.8 MB ● Maison d’édition Springer Berlin ● Lieu Heidelberg ● Pays DE ● Publié 2011 ● Téléchargeable 24 mois ● Devise EUR ● ID 2172416 ● Protection contre la copie DRM sociale

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