International Coordination of Macroeconomic Policies: A Welfare Analysis
نویسندگان
چکیده
منابع مشابه
Macroeconomic stabilization policies in the EMU : spillovers , asymmetries , and institutions
This paper studies the institutional design of the coordination of macroeconomic stabilization policies within a monetary union in the framework of linear quadratic differential games. A central role in the analysis plays the partitioned game approach of the endogenous coalition formation literature. The specific policy recommendations in the EMU context depend on the particular characteristics...
متن کاملMonetary and Macro-prudential Policies: An Integrated Analysis
This paper studies the interaction between monetary and macro-prudential policies in a simple model with both nominal and financial frictions. The nominal friction gives rise to a conventional monetary policy objective emphasized in the New Keynesian literature. The financial friction, in the form of an occasionally binding collateral constraint, gives rise to a financial stability objective. ...
متن کاملWelfare Improving Coordination of Fiscal and Monetary Policy
The paper considers a simple model in which monetary and scal policies are formally independent, but still interdependent through spillovers of macroeconomic outcomes. It shows that the average equilibrium levels of ination, de cit, debt, and output depend on the two policies (i) potency (elasticity of output with respect to the policy instruments); (ii) ambition (the level of their output t...
متن کاملMacroeconomic Policies and Increasing Social-Health Inequality in Iran
Background Health is a complex phenomenon that can be studied from different approaches. Despite a growing research in the areas of Social Determinants of Health (SDH) and health equity, effects of macroeconomic policies on the social aspect of health are unknown in developing countries. This study aimed to determine the effect of macroeconomic policies on increasing of the social-health inequa...
متن کاملInternational financial crises and public policy : some welfare analysis
This article describes a model of financial crisis and explores its implications for public policy. The framework nests the key features of earlier models but is better able to address international architecture questions in a welfare setting. In particular, this framework is used to assess the welfare costs of creditor coordination failure and several recent public policy proposals on reformin...
متن کامل