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International policy cooperation may be undesirable

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Listed author(s):
  • Patrick J. Kehoe

Abstract

This paper presents a simple counterexample to the belief that international policy cooperation is desirable. It also explains circumstances under which such a counterexample is possible.

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File URL: http://www.minneapolisfed.org/research/common/pub_detail.cfm?pb_autonum_id=384
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File URL: http://minneapolisfed.org/research/sr/sr103.pdf
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Paper provided by Federal Reserve Bank of Minneapolis in its series Staff Report with number 103.

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Date of creation: 1986
Publication status: Published in Review of Economic Studies (Vol.56, n.2, 1989, pp.289-296)
Handle: RePEc:fip:fedmsr:103
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Keywords: International economic relations;

This paper has been announced in the following NEP Reports:

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  1. Persson, Torsten, 1988. "An introduction and a broad survey," European Economic Review, Elsevier, vol. 32(2-3), pages 519-532, March.
  2. Kehoe, Patrick J., 1987. "Coordination of fiscal policies in a world economy," Journal of Monetary Economics, Elsevier, vol. 19(3), pages 349-376, May.
  3. Canzoneri, Matthew B. & Henderson, Dale W., 1988. "Is sovereign policymaking bad?," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 28(1), pages 93-140, January.
  4. Calvo, Guillermo A, 1978. "On the Time Consistency of Optimal Policy in a Monetary Economy," Econometrica, Econometric Society, vol. 46(6), pages 1411-1428, November.
  5. V. V. Chari & Patrick J. Kehoe & Edward C. Prescott, 1988. "Time consistency and policy," Staff Report 115, Federal Reserve Bank of Minneapolis.
  6. van der Ploeg, Frederick, 1988. "International policy coordination in interdependent monetary economies," Journal of International Economics, Elsevier, vol. 25(1-2), pages 1-23, August.
  7. Chari, V V & Kehoe, Patrick J, 1990. "International Coordination of Fiscal Policy in Limiting Economies," Journal of Political Economy, University of Chicago Press, vol. 98(3), pages 617-636, June.
  8. Rogoff, Kenneth, 1985. "Can international monetary policy cooperation be counterproductive?," Journal of International Economics, Elsevier, vol. 18(3-4), pages 199-217, May.
  9. Hamada, Koichi, 1976. "A Strategic Analysis of Monetary Interdependence," Journal of Political Economy, University of Chicago Press, vol. 84(4), pages 677-700, August.
  10. Devereux, Michael B, 1990. "International Cooperation, Precommitment, and Welfare," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 31(2), pages 439-456, May.
  11. Fischer, Stanley, 1980. "Dynamic inconsistency, cooperation and the benevolent dissembling government," Journal of Economic Dynamics and Control, Elsevier, vol. 2(1), pages 93-107, May.
  12. Reinhard Neck & Engelbert Dockner, 1995. "Commitment and coordination in a dynamic game model of international economic policy-making," Open Economies Review, Springer, vol. 6(1), pages 5-28, January.
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Cited by:

  1. Jeffrey A. Frankel & Katharine Rockett, 1986. "International Macroeconomic Policy Coordination When Policy-Makers Disagree on the Model," NBER Working Papers 2059, National Bureau of Economic Research, Inc.
  2. Tabellini, Guido, 1990. "Domestic politics and the international coordination of fiscal policies," Journal of International Economics, Elsevier, vol. 28(3-4), pages 245-265, May.
  3. Michael Devereux & Thomas A. Wilson, 1989. "International Co-ordination of Macroeconomic Policies: A Review," Canadian Public Policy, University of Toronto Press, vol. 15(s1), pages 20-34, February.

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