Coordination without Explicit Cooperation: Monetary-Fiscal Interactions in an Era of Demographic Change

Early work on the theory of economic policy stressed the importance of accounting for the interactions between fiscal and monetary policy. Tinbergen, and Cooper, taught us that there would be costs in missed targets, instability, and protracted imbalances if this was not done. Yet most models we use today treat fiscal or monetary policies as if they operated alone. This paper reviews the advantages of recognising those interactions.

MoreLess

Year of publication:	2008-02
Authors:	Hallett, Andrew Hughes
Institutions:	Directorate-General Economic and Financial Affairs, European Commission
Subject:	Stackelberg leadership \| institutional coordination \| debt rules \| robust policies \| Hughes Hallett

More details

Extent:	application/pdf
Series:	European Economy - Economic Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 305 49 pages
Classification:	E52 - Monetary Policy (Targets, Instruments, and Effects) ; E61 - Policy Objectives; Policy Designs and Consistency; Policy Coordination ; F42 - International Policy Coordination and Transmission
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008577467