Does Detrending Matter for the Determination of the Reference Cycle and the Selection of Turning Points?
Recent research in contract theory views ownership as a substitute for complete contracts. Here, this approach is applied to monetary integration. Countries face a coordination problem conducting monetary policy. Negative spillovers ensure uncoordinated policy generates too high inflation. Ex ante, policymakers can undertake politically costly economic reform. This has a positive spillover because it improves the outcome of the monetary policy game. Ex post contracting over policy may be possible, but it supposed that ex ante contracting over reform and monetary policy is not. This paper analyzes when monetary union is a good substitute for this inability to commit.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 109 (1999)
Issue (Month): 452 (January)
|Contact details of provider:|| Postal: Office of the Secretary-General, Rm E35, The Bute Building, Westburn Lane, St Andrews, KY16 9TS, UK|
Phone: +44 1334 462479
Web page: http://www.res.org.uk/
More information through EDIRC
|Order Information:||Web: http://www.blackwellpublishers.co.uk/asp/journal.asp?ref=0013-0133|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Guillem López & Adam R. Wagstaff, 1992. "Indicadores de eficiencia en el sector hospitalario," Economics Working Papers 11, Department of Economics and Business, Universitat Pompeu Fabra.
- Giorgia Giovannetti, 1993. "Import pricing, domestic pricing and market structure," Economics Working Papers 71, Department of Economics and Business, Universitat Pompeu Fabra, revised Jan 1994.
- Oriol Amat & John Blake & Julia Clarke, 1994. "Bank financial analyst's response to lease capitalization in Spain," Economics Working Papers 89, Department of Economics and Business, Universitat Pompeu Fabra.
- Daniel Serra, 1993. "The coherent covering location problem," Economics Working Papers 20, Department of Economics and Business, Universitat Pompeu Fabra.
When requesting a correction, please mention this item's handle: RePEc:ecj:econjl:v:109:y:1999:i:452:p:126-50. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.