Hughes Hallett, Andrew; Libich, Jan; Stehlík, Petr - In: Czech Economic Review 5 (2011) 1, pp. 007-026
. This implies that coordination of monetary and fiscal policy is superior to non-cooperative Nash behaviour. In particular …, we find that ambition-coordination is more important than conservatism-coordination in terms of avoiding medium …-run imbalances due to a tug-of-war betw een the policies. For this reason, and perhaps surprisingly, ambition-coordination can be …