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Strategic Policy Interactions in a Monetary Union by Michael Carlberg

Strategic Policy Interactions in a Monetary Union

by Michael Carlberg
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Book cover type: Paperback
  • ISBN13: 9783642100840
  • Binding: Paperback
  • Subject: N/A
  • Publisher: Springer
  • Publisher Imprint: Springer
  • Publication Date:
  • Pages: 256
  • Original Price: EUR 99.99
  • Language: English
  • Edition: N/A
  • Item Weight: 415 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.

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