Dynamic Policy Interactions in a Monetary Union

By:

Michael Carlberg

Format:

Hardback

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Description

This book studies the dynamics of monetary and fiscal interactions in the Euro Area. The policy makers are the European Central Bank and national governments. The primary target of the ECB is low inflation. And the primary target of a national government is low unemployment. However, there is a short-run trade-off between low inflation and low unemployment. Here the main focus is on sequential policy decisions. Another focus is on simultaneous and independent policy decisions. And a third focus is on policy cooperation. There are demand shocks, supply shocks, and mixed shocks. There are country-specific shocks and common shocks. The key question is: Given a shock, what are the dynamic characteristics of the resulting process?

Author Biography:

Michael Carlberg is Professor at Helmut Schmidt University in Hamburg, Germany. His research is on Macroeconomics, Monetary Economics, and International Economics.

Release date NZ

February 26th, 2011

Author

Michael Carlberg

Audience

Postgraduate, Research & Scholarly

Edition

2011

Illustrations

XII, 347 p.

Pages

347

Dimensions

156x234x20

ISBN-13

9783642182273

Product ID

10053604

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