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Crisis in the Euro area: coopetitive game solutions as new policy tools

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  • Carfì, David
  • Schilirò, Daniele

Abstract

The crisis within the Euro area have become frequent during 2010. First was the Greek economy to face a default problem of its sovreign debt, in November it was Ireland who has been in a serious financial situation at the verge of collapse causing difficulties to the euro. In this contribution we focus on the Greek crisis and we suggest, through a model of coopetition based on game theory and conceived at a macro level, feasible solutions in a cooperative perspective for the divergent interests which drive the economic policies in Germany and Greece, with the aim of improving the position of Greece, Germany and the whole Euro area and also giving a contribution to expand the set of macroeconomic policy tools. By means of our general analytical framework of coopetition, we show the strategies that could bring to feasible solutions in a cooperative perspective for Germany and Greece, where these feasible solutions aim at offering a win-win outcome for both countries, letting them to share the pie fairly within a growth path represented by a non-zero sum game. A remarkable analytical result of our work consists in the determination of the win-win solution by a new selection method on the transferable utility Pareto boundary of the coopetitive game.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 27138.

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Date of creation: Nov 2010
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Handle: RePEc:pra:mprapa:27138

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Keywords: European monetary Union; Coopetitive Games; Macroeconomic Policy;

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References

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  1. Alberto Alesina & Silvia Ardagna, 2010. "Large Changes in Fiscal Policy: Taxes versus Spending," NBER Chapters, in: Tax Policy and the Economy, Volume 24, pages 35-68 National Bureau of Economic Research, Inc.
  2. Schilirò, Daniele, 2008. "Knowledge, learning, networks and performance of firms in knowledge-based economies," MPRA Paper 30901, University Library of Munich, Germany.
  3. von Hagen, Jurgen & Strauch, Rolf R, 2001. " Fiscal Consolidations: Quality, Economic Conditions, and Success," Public Choice, Springer, vol. 109(3-4), pages 327-46, December.
  4. Frederick L. Joutz & Stephan Danninger, 2007. "What Explains Germany's Rebounding Export Market Share?," IMF Working Papers 07/24, International Monetary Fund.
  5. Jean Pisani-Ferry & Adam Posen, . "The euro at ten: the next global currency?," Books, Bruegel, number 303, September.
  6. Daniele Schilirò, 2010. "Jean Pisani-Ferry and Adam S. Posen. 2009. The Euro at Ten: The next global currency? (Washington D.C.: Peterson Institute for International Economics, Bruegel)," The Review of International Organizations, Springer, vol. 5(1), pages 101-105, March.
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Cited by:
  1. Carfì, David & Perrone, Emanuele, 2011. "Asymmetric Bertrand duopoly: game complete analysis by algebra system Maxima," MPRA Paper 35417, University Library of Munich, Germany.
  2. David Carf\`i & Daniele Schilir\`o, 2012. "Global Green Economy and Environmental Sustainability: a Coopetitive Model," Papers 1205.2872, arXiv.org.
  3. David, Carfì & Daniele, SCHILIRO', 2014. "Improving competitiveness and trade balance of Greek economy: a coopetitive strategy model," MPRA Paper 55124, University Library of Munich, Germany.
  4. Schilirò, Daniele, 2012. "The crisis of euro’s governance: institutional aspects and policy issues," MPRA Paper 40861, University Library of Munich, Germany.
  5. David CARFI & Caterina FICI, 2012. "The Government-Taxpayer Game," Theoretical and Practical Research in Economic Fields, ASERS Publishing, vol. 0(1), pages 13-25, June.
  6. David CARFÌ & Emanuele PERRONE, 2011. "Game Complete Analysis Of Bertrand Duopoly," Theoretical and Practical Research in Economic Fields, ASERS Publishing, vol. 0(1), pages 5-22, June.
  7. Schilirò, Daniele, 2012. "A new governance for EMU and the economic policy framework," MPRA Paper 47454, University Library of Munich, Germany.
  8. Carfì, David & Schilirò, Daniele, 2012. "A coopetitive model for the green economy," Economic Modelling, Elsevier, vol. 29(4), pages 1215-1219.
  9. Carfì, David & Schilirò, Daniele, 2012. "A model of coopetitive game for the environmental sustainability of a global green economy," MPRA Paper 38508, University Library of Munich, Germany.
  10. Carfì, David & Bagileri, Daniela & Dagnino, Gianbattista, 2012. "Asymmetric R&D alliances and coopetitive games," MPRA Paper 37095, University Library of Munich, Germany.
  11. Schilirò, Daniele, 2012. "Hans Werner Sinn and Timo Wollmershaeuser’s target loans, current account balances and capital flows: the ECB’s rescue facility. A comment," MPRA Paper 48075, University Library of Munich, Germany.
  12. Schilirò, Daniele & Carfì, David, 2013. "Coopetitive game solutions for the Greek crisis," MPRA Paper 43578, University Library of Munich, Germany.

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