• ISBN13: 9783540927501
• Binding: Hardcover
• Subject: Economics
• Publisher: Springer Verlag
• Publisher Imprint: Springer V
• Publication Date: January 1, 2009
• Pages: 256
• Original Price: EUR 139.99
• Language: English
• Edition: N/A
• Item Weight: 563 grams
• BISAC Subject(s): Economics / Macroeconomics, International / Economics & Trade, and Public Policy / Economic Policy

From the Back Cover
This book studies the strategic policy interactions in a monetary union. The leading protagonists are the European Central Bank and national governments. The target of the ECB is low inflation in Europe. The targets of a national government are low unemployment and a low structural deficit. There are demand shocks, supply shocks, and mixed shocks. There are country-specific shocks and common shocks. This book develops a series of basic, intermediate, and more advanced models. Here the focus is on the Nash equilibrium. The key questions are: Given a shock, can policy interactions reduce the existing loss? And to what extent can they do so? Another topical issue is policy cooperation. To illustrate all of this there are a lot of numerical examples.