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Monetary Unions: The Policy Coordination Issue

  • Giovanni Di Bartolomeo

    (Public Economics Department, University of Rome La Sapienza)

  • Jacob Engwerda

    (Department of Econometrics, Tilburg University)

  • Joseph Plasmans

    (Faculty of Applied Economics UFSIA-RUCA, University of Antwerp)

  • Bas van Aarle

    (Faculty of Economics LICOS, Catholic University of Leuven)

In this paper we build a three-country dynamic model of a monetary union (MU), where we focus on how coalitions among policy-makers are formed and what are their effects on the stabilization of output and price. Some preliminary results based on numerical simulations are provided.

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Paper provided by EconWPA in its series Macroeconomics with number 0504023.

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Length: 6 pages
Date of creation: 16 Apr 2005
Date of revision:
Handle: RePEc:wpa:wuwpma:0504023
Note: Type of Document - pdf; pages: 6
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  1. Kohler, Marion, 2002. "Coalition formation in international monetary policy games," Journal of International Economics, Elsevier, vol. 56(2), pages 371-385, March.
  2. Engwerda, J.C. & van Aarle, B. & Plasmans, J.E.J., 2002. "Cooperative and non-cooperative fiscal stabilization policies in the EMU," Other publications TiSEM 2cc19f3f-16ad-4fed-a701-5, Tilburg University, School of Economics and Management.
  3. Widgren, Mika, 1994. "Voting power in the EC decision making and the consequences of two different enlargements," European Economic Review, Elsevier, vol. 38(5), pages 1153-1170, May.
  4. 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.
  5. VAN AARLE, Bas & DI BARTOLOMEO, Giovanni & ENGWERDA, Jacob & PLASMANS, Joseph, 2002. "Staying together or breaking apart: Policy-makers' endogenous coalitions formation in the European economic and monetary Union," Working Papers 2002013, University of Antwerp, Faculty of Applied Economics.
  6. Carlo Carraro, 1997. "Modelling International Policy Games: Lessons from European Monetary Coordination," Empirica, Springer, vol. 24(3), pages 163-177, October.
  7. Yi, Sang-Seung, 1997. "Stable Coalition Structures with Externalities," Games and Economic Behavior, Elsevier, vol. 20(2), pages 201-237, August.
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