International policy cooperation may be undesirable
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.
|Date of creation:||1986|
|Date of revision:|
|Publication status:||Published in Review of Economic Studies (Vol.56, n.2, 1989, pp.289-296)|
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121, Federal Reserve Bank of Minneapolis.
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- 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.
- Patrick J. Kehoe, 1986.
"Coordination of fiscal policies in a world economy,"
98, Federal Reserve Bank of Minneapolis.
- Kehoe, Patrick J., 1987. "Coordination of fiscal policies in a world economy," Journal of Monetary Economics, Elsevier, vol. 19(3), pages 349-376, May.
- Hamada, Koichi, 1976. "A Strategic Analysis of Monetary Interdependence," Journal of Political Economy, University of Chicago Press, vol. 84(4), pages 677-700, August.
- V.V. Chari & Patrick J. Kehoe & Edward C. Prescott, 1988. "Time consistency and policy," Staff Report 115, Federal Reserve Bank of Minneapolis.
- 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 439-56, May.
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