Macroeconomic Policy Interaction under EMU: A Dynamic Game Approach
نویسندگان
چکیده
In this paper we study macroeconomic stabilization in the Economic and Monetary Union (EMU) using a dynamic game approach. With the aid of a stylized macroeconomic model, this paper analyzes the transmission and interaction of national fiscal policies and monetary policy of the European Central Bank (ECB) in the EMU. A special focus is on the effects of labor market institutions in the participating countries and of the introduction of fiscal stringency criteria like those imposed in the Stability and Growth Pact.
منابع مشابه
Monetary and Fiscal Policy Interaction in the EMU: A Dynamic Game Approach
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