Evaluating the Gains to Cooperation in the G-3
نویسندگان
چکیده
A model of the G-3 is introduced which has a transparent structure including a simple but analytically tractable supply side. New optimising techniques are used to conduct extensive policy experiments on this multicountry model (including full Nash solutions and a fully cooperative solution). In the case of a fiscal shock originating in the US we find evidence of significant spillovers to other countries, which can only be ameliorated in the fully cooperative regime.
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