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Persistent link: https://www.econbiz.de/10005071547
This paper shows that international policy coordination is not counterproductive in a world where the incentive to run beggar-thy-neighbor policies internationally arises from the inefficiency that characterizes, within each country, the interaction between policymakers and private agents. The...
Persistent link: https://www.econbiz.de/10005778364
This paper shows that international policy coordination is not counterproductive in a world where the incentive to run beggar-thy-neighbor policies internationally arises from the inefficiency that characterizes, within each country, the interaction between policymakers and private agents. The...
Persistent link: https://www.econbiz.de/10005281385
This paper studies monetary policy games in a two-period Mundell-Fleming model, under a regime of managed exchange rates. A regime of managed exchange rates is defined as one where exchange rates are pegged but bilateral parities can be changed from time to time. The paper argues that such a...
Persistent link: https://www.econbiz.de/10005504262
This paper is a first attempt at evaluating the determinants of the total interest rate differentials on government bonds between high yielders, namely Spain, Italy, Sweden, and Germany. In particular, we address the question of the relative importance of local and global factors in the...
Persistent link: https://www.econbiz.de/10005504311
This Paper contributes ideas and analysis to the ongoing EU reform debate. It consists of three distinct parts: voting in the Council of Ministers, restructuring the ECB's Governing Council, and the setting of enlargement “examination” dates. The IGC currently focuses on Council voting,...
Persistent link: https://www.econbiz.de/10005504315
This paper addresses the question of whether the European Monetary System can be copied outside Europe. Our answer is negative. The presence of the EC and the dependence of EC institutions on exchange rate stability lend credibility to EMS exchange rate targets in a way that would not be...
Persistent link: https://www.econbiz.de/10005504409
Persistent link: https://www.econbiz.de/10005527193
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Persistent link: https://www.econbiz.de/10005531164