Monetary and Fiscal Policy Design under EMU: A Dynamic Game Approach
AbstractThis paper analyzes the problem of designing macroeconomic stabilization policies within the European Monetary Union (EMU) as a dynamic game between a centralized monetary authority, the European Central Bank (ECB), and national fiscal policy makers. Non-cooperative feedback Nash equilibrium and cooperative Nash bargaining solutions are determined under various assumptions about r ationing regimes in goods and labor markets and structural characteristics of the economies involved.
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Bibliographic InfoPaper provided by Tilburg University in its series Open Access publications from Tilburg University with number urn:nbn:nl:ui:12-81534.
Date of creation: 1999
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Other versions of this item:
- Van Aarle B. & Engwerda J.C. & Plasmans J. & Weeren A., 1999. "Monetary and fiscal pollcy design under EMU: a dynamie game approach," Working Papers 1999041, University of Antwerp, Faculty of Applied Economics.
- Bas van Aarle & Jacob Engwerda & Joseph Plasmans & Arie Weeren, 2000. "Monetary and Fiscal Policy Design under EMU: A Dynamic Game Approach," CESifo Working Paper Series 262, CESifo Group Munich.
- Aarle, B. van & Engwerda, J.C. & Plasmans, J.E.J. & Weeren, A.J.T.M., 1999. "Monetary and Fiscal Policy Design under EMU: A Dynamic Game Approach," Open Access publications from Tilburg University urn:nbn:nl:ui:12-81174, Tilburg University.
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