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...

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...

New York is considering additional emission regulation on top of its obligations under the Regional Greenhouse Gas Initiative (RGGI) to achieve its State Energy Plan targets. The proposed measure is a so-called "carbon adder" on CO2 emissions from the power sector which is set as the difference...