In this paper we consider a number of key issues related to the policy coordination in a monetary union that has been recently discussed in the literature. To this end we propose a multi-country New-Keynesian model of a monetary union cast in the framework of linear quadratic differential games....

In this paper, we analyze coordination of macroeconomic stabilization policies within the EMU by focusing, in a dynamic set-up, on asymmetries, externalities, and the existence of a multi-country context. We study how coalitions among fiscal and monetary authorities are formed and what are their...

The authors construct an asymmetric duopolistic R&D and production behavior model subject to knowledge spillovers. This model is an extension to the symmetric model of d'Aspremont and Jaquemin (A&J (1988)) and aims to determine the cooperative and non-cooperative R&D strategiesfor two agents of...