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Monetary and fiscal policy coordination and macroeconomic stabilization. A theoretical analysis

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  • L. Lambertini
  • R. Rovelli

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Paper provided by Dipartimento Scienze Economiche, Universita' di Bologna in its series Working Papers with number 464.

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Date of creation: 2003
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Handle: RePEc:bol:bodewp:464

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  1. d'ASPREMONT, C. & GERARD-VARET, L.-A., . "Stackelberg-solvable games and pre-play communication," CORE Discussion Papers RP -425, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. Andersen, Torben M, 2002. "Fiscal Stabilization Policy in a Monetary Union with Inflation Targeting," CEPR Discussion Papers 3232, C.E.P.R. Discussion Papers.
  3. Roel Beetsma & Xavier Debrun & Franc Klaassen, 2001. "Is Fiscal Policy Coordination in EMU Desirable?," IHEID Working Papers 04-2001, Economics Section, The Graduate Institute of International Studies.
  4. V. V. Chari & Patrick J. Kehoe, 1998. "Optimal fiscal and monetary policy," Staff Report 251, Federal Reserve Bank of Minneapolis.
  5. Svensson, Lars E O, 1996. "Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets," CEPR Discussion Papers 1511, C.E.P.R. Discussion Papers.
  6. Leeper, Eric M., 1991. "Equilibria under 'active' and 'passive' monetary and fiscal policies," Journal of Monetary Economics, Elsevier, vol. 27(1), pages 129-147, February.
  7. Hamilton, Jonathan H. & Slutsky, Steven M., 1990. "Endogenous timing in duopoly games: Stackelberg or cournot equilibria," Games and Economic Behavior, Elsevier, vol. 2(1), pages 29-46, March.
  8. Thomas J. Sargent & Neil Wallace, 1981. "Some unpleasant monetarist arithmetic," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Fall.
  9. Beetsma, Roel & Bovenberg, A Lans, 1995. "Does Monetary Unification Lead to Excessive Debt Accumulation?," CEPR Discussion Papers 1299, C.E.P.R. Discussion Papers.
  10. Beetsma, Roel & Uhlig, Harald, 1999. "An Analysis of the Stability and Growth Pact," Economic Journal, Royal Economic Society, vol. 109(458), pages 546-71, October.
  11. Beetsma, Roel & Bovenberg, A Lans, 2001. "Structural Distortions and Decentralized Fiscal Policies in EMU," CEPR Discussion Papers 2851, C.E.P.R. Discussion Papers.
  12. Hamada, Koichi, 1976. "A Strategic Analysis of Monetary Interdependence," Journal of Political Economy, University of Chicago Press, vol. 84(4), pages 677-700, August.
  13. Carlo A. Favero, . "Macroeconomic stability and the preferences of the Fed. A formal analysis, 1961-98," Working Papers 200, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
  14. Alan S. Blinder, 1997. "Distinguished Lecture on Economics in Government: What Central Bankers Could Learn from Academics--And Vice Versa," Journal of Economic Perspectives, American Economic Association, vol. 11(2), pages 3-19, Spring.
  15. Uhlig, Harald, 2002. "One Money, but Many Fiscal Policies in Europe: What Are the Consequences?," CEPR Discussion Papers 3296, C.E.P.R. Discussion Papers.
  16. Woodford, Michael, 1995. "Price-level determinacy without control of a monetary aggregate," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 43(1), pages 1-46, December.
  17. Dixit, Avinash & Lambertini, Luisa, 2001. "Monetary-fiscal policy interactions and commitment versus discretion in a monetary union," European Economic Review, Elsevier, vol. 45(4-6), pages 977-987, May.
  18. Guy Debelle & Stanley Fischer, 1994. "How independent should a central bank be?," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 38, pages 195-225.
  19. Walsh, Carl E, 1995. "Optimal Contracts for Central Bankers," American Economic Review, American Economic Association, vol. 85(1), pages 150-67, March.
  20. Alesina, Alberto & Tabellini, Guido, 1987. "Rules and Discretion with Noncoordinated Monetary and Fiscal Policies," Economic Inquiry, Western Economic Association International, vol. 25(4), pages 619-30, October.
  21. Engwerda, J.C. & Aarle, B. van & Plasmans, J.E.J., 1998. "Fiscal Policy Interaction in the EMU," Discussion Paper 1998-113, Tilburg University, Center for Economic Research.
  22. Matthew B. Canzoneri & Dale W. Henderson, 1991. "Monetary Policy in Interdependent Economies: A Game-Theoretic Approach," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262031787, January.
  23. Bas van Aarle & Jacob Engwerda & Joseph Plasmans, 2001. "Monetary and Fiscal Policy Interaction in the EMU: A Dynamic Game Approach," CESifo Working Paper Series 437, CESifo Group Munich.
  24. Persson, Torsten & Tabellini, Guido, 1993. "Designing institutions for monetary stability," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 39(1), pages 53-84, December.
  25. Bulow, Jeremy I & Geanakoplos, John D & Klemperer, Paul D, 1985. "Multimarket Oligopoly: Strategic Substitutes and Complements," Journal of Political Economy, University of Chicago Press, vol. 93(3), pages 488-511, June.
  26. L. Lambertini & R. Rovelli, 2002. "Optimal Fiscal Stabilization Policy With Credible Central Bank Independence," Working Papers 460, Dipartimento Scienze Economiche, Universita' di Bologna.
  27. Marco Buti & Werner Roeger & Jan In't Veld, 2001. "Stabilizing Output and Inflation: Policy Conflicts and Co-operation under a Stability Pact," Journal of Common Market Studies, Wiley Blackwell, vol. 39(5), pages 801-828, December.
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Citations

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Cited by:
  1. René Cabral-Torres, . "Monetary and Fiscal Policy Coordination," Discussion Papers 05/28, Department of Economics, University of York.
  2. Ali al-Nowaihi & Sanjit Dhami, 2011. "Strategic monetary and fiscal policy interaction in a liquidity trap," Discussion Papers in Economics 11/43, Department of Economics, University of Leicester.
  3. Cornel Oros, 2009. "Economic Governance in an Asymmetric Monetary Union: A Fiscal Policy Game Analysis," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 39-60.
  4. Damir Šehović, 2013. "General Aspects of Monetary and Fiscal Policy Coordination," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 2(3), pages 5-27.
  5. Cornel Oros, 2008. "Macroeconomic stabilization in a heterogeneous monetary union: some insights into the effects of fiscal policy coordination," Economics Bulletin, AccessEcon, vol. 5(34), pages 1-12.
  6. Kamal, Mona, 2010. "تجربة الاتحاد النقدي الأوروبي في مجال التنسيق بين السياستين المالية والنقدية
    [The Experience of the European Monetary Union in the
    ," MPRA Paper 27764, University Library of Munich, Germany.
  7. Mathan Satchi & Tatiana Kirsanova & David Vines, 2004. "Monetary Union: Fiscal Stabilisation In The Face Of Asymmetric Shocks," Royal Economic Society Annual Conference 2004 153, Royal Economic Society.
  8. repec:ebl:ecbull:v:5:y:2008:i:34:p:1-12 is not listed on IDEAS
  9. Rosaria Rita Canale, 2010. "Central Bank Reaction to Public Deficit and Sound Public Finance: The Case of the European Monetary Union," Journal of Advanced Studies in Finance, ASERS Publishing, vol. 0(1), pages 4-17, June.
  10. Valeria De Bonis & Pompeo Della Posta, 2005. "Strategic interactions between monetary and fiscal authorities in a monetary union," Working Papers de Economia (Economics Working Papers) 26, Departamento de Economia, Gestão e Engenharia Industrial, Universidade de Aveiro.
  11. L. Lambertini & R. Rovelli, 2002. "Optimal Fiscal Stabilization Policy With Credible Central Bank Independence," Working Papers 460, Dipartimento Scienze Economiche, Universita' di Bologna.
  12. Andrew Blake & Tatiana Kirsanova, 2004. "Non-cooperative Monetary and Fiscal Policy: The Value of Leadership," Money Macro and Finance (MMF) Research Group Conference 2004 84, Money Macro and Finance Research Group.

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