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Author : David B. Timmins,William M. Timmins
Publisher : Lanham : University Press of America
Page : 144 pages
File Size : 42,6 Mb
Release : 1985
Category : International economic relations
ISBN : UCAL:B4273452
Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 59 pages
File Size : 55,8 Mb
Release : 1988-06-29
Category : Business & Economics
ISBN : 9781451969825
This paper discusses the scope, methods, and effects of international coordination of economic policies. In analyzing the scope for and of coordination, the paper addresses the rationale for coordination, barriers to coordination, the range and specificivity of policies to be coordinated, and the frequency of coordination. In evaluating the methods of coordination, the emphasis is on the broad issues of rules versus discretion, single-indicator versus multi-Indicator systems, and hegemonic versus symmetric systems. Finally, using the MULTIMOD global macroeconomic model, some simulations are presented of several rule-based proposals for coordination.
Author : Centre for Economic Policy Research (Great Britain),National Bureau of Economic Research
Publisher : CUP Archive
Page : 408 pages
File Size : 45,9 Mb
Release : 1985
Category : Business & Economics
ISBN : 0521337801
This volume presents some of the best current research on international economic policy coordination.
Author : Wilfried Guth
Publisher : International Monetary Fund
Page : 240 pages
File Size : 52,9 Mb
Release : 1988-12-15
Category : Business & Economics
ISBN : 1557750254
This volume, which presents the proceedings of a seminar moderated by Wilfred Guth in Hamburg, Germany, dicusses the extent of international policy coordination, its effectiveness, and how it can be expected to work in the future.
Author : William H. Branson,Jacob A. Frenkel,Morris Goldstein
Publisher : University of Chicago Press
Page : 396 pages
File Size : 44,5 Mb
Release : 2007-12-01
Category : Reference
ISBN : 9780226071381
Since the five largest industrial democracies concluded the Plaza Agreement in 1985, the theory and practice of international economic policy coordination has become the subject of spirited academic and public-policy debate. While some view policy coordination as crucial for the construction of an improved international monetary system, others fear that it risks delaying or weakening the implementation of macroeconomic and structural policies. In these papers and comments, prominent international economists consider past and present interpretations of the meaning of international policy coordination; conditions necessary for coordination to be beneficial both to the direct participants and the global economy; influential factors for the quantitative impact of coordination; obstacles to coordination; the most—and least—effective methods of coordination; and future directions of the coordination process, including processes associated with greater fixity of exchange rates. These studies will be readily accessible to policymakers, while offering sophisticated analyses to interested scholars of the global economy.
Author : Jacques Jacobus Polak
Publisher : Unknown
Page : 36 pages
File Size : 47,8 Mb
Release : 1981
Category : Economic policy
ISBN : UCSD:31822035026012
Author : Michael Carlberg
Publisher : Springer Science & Business Media
Page : 318 pages
File Size : 51,7 Mb
Release : 2005-08-15
Category : Business & Economics
ISBN : 9783540273189
This book studies the international coordination of monetary and fiscal policies in the world economy. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on monetary and fiscal competition between Europe and America. Similarly, as to policy cooperation, the focus is on monetary and fiscal cooperation between Europe and America. The spillover effects of monetary policy are negative while the spillover effects of fiscal policy are positive. The policy targets are price stability and full employment. The policy makers follow either cold-turkey or gradualist strategies. Policy expectations are adaptive or rational. The world economy consists of two, three or more regions. The present book is part of a larger research project on European Monetary Union, see the references at the back of the book. Some parts of this project were presented at the World Congress of the International Economic Association in Lisbon. Other parts were presented at the International Institute of Public Finance, at the Macro Study Group of the German Economic Association, at the Annual Meeting of the Austrian Economic Association, at the Gottingen Workshop on International Economics, at the Halle Workshop on Monetary Economics, at the Research Seminar on Macroeconomics in Freiburg, and at the Passau Workshop on International Economics.
Author : H. J. Blommestein
Publisher : Unknown
Page : 248 pages
File Size : 54,9 Mb
Release : 1991
Category : Business & Economics
ISBN : STANFORD:36105000080056
The "reality" of international economic policy coordination is the subject of this book. This reality comprises the objectives of policy-makers, the various constraints faced by policy makers, and current economic knowledge about international coordination. The treatment of the subject matter is unique because the principal authors have first-hand knowledge based on their current or past involvement in the process of international economic policy coordination. This makes the book important and stimulating for both policy makers and academic specialists in this field. The study provides an in-depth analytical overview of the most important topics in the area of international coordination: the role of institutions, fiscal policy, tax policy, the international monetary system, the European monetary system, policy assignment rules and exchange rate regimes, structural policy and structural reform, methods and empirical effects of international policy coordination.
Author : Wendy Dobson
Publisher : Washington, D.C. : Institute for International Economics
Page : 192 pages
File Size : 41,7 Mb
Release : 1991
Category : Business & Economics
ISBN : STANFORD:36105035238364
Author : Michael C. Webb
Publisher : Cornell University Press
Page : 300 pages
File Size : 48,9 Mb
Release : 1995
Category : Business & Economics
ISBN : 0801429293
Webb examines in particular how the United States, Japan, and Germany took unprecedented steps to coordinate monetary and fiscal policies in the late 1980s and early 1990s, although domestic political obstacles - not any decline in U.S. power - limited the impact of this policy coordination. He concludes by assessing the effectiveness of these attempts to reconcile the goal of a stronger liberal system of economic exchange with the desire to maintain national autonomy.
Author : International Monetary Fund. European Dept.
Publisher : International Monetary Fund
Page : 64 pages
File Size : 45,6 Mb
Release : 2019-12-19
Category : Business & Economics
ISBN : 9781513523439
This paper discusses the Republic of Serbia’s Third Review Under the Policy Coordination Instrument (PCI). Serbia is the second IMF member country to request a PCI and aims to maintain macroeconomic and financial stability, while advancing an ambitious reform agenda to foster rapid growth, job creation and improved living standards. All quantitative targets (QTs) for end-September 2019 were met. Most reform targets (RTs) have been implemented. The IMF Staff recommends completion of the third review under the Policy Coordination Instrument and establishment of end-September 2020 QTs. Fiscal policy is on track so far, however, it will be important to closely monitor 2019 budget implementation to ensure that the deficit stays within the program ceiling. While progress has been made in reforming the tax administration and strengthening public investment management frameworks, delayed reforms of the public wage system and public employment framework need to advance in 2020.
Author : Mr.Jaromir Benes,Mr.Michael Kumhof,Mr.Douglas Laxton,Mr.Dirk Muir,Susanna Mursula
Publisher : International Monetary Fund
Page : 53 pages
File Size : 44,7 Mb
Release : 2013-12-23
Category : Business & Economics
ISBN : 9781484326626
This paper uses two of the IMF’s DSGE models to simulate the benefits of international fiscal and macroprudential policy coordination. The key argument is that these two policies are similar in that, unlike monetary policy, they have long-run effects on the level of GDP that need to be traded off with short-run effects on the volatility of GDP. Furthermore, the short-run effects are potentially much larger than those of conventional monetary policy, especially in the presence of nonlinearities such as the zero interest rate floor, minimum capital adequacy regulations, and lending risk that depends in a convex fashion on loan-to-value ratios. As a consequence we find that coordinated fiscal and/or macroprudential policy measures can have much larger stimulus and spillover effects than what has traditionally been found in the literature on conventional monetary policy.
Author : Willem H. Buiter
Publisher : Unknown
Page : 386 pages
File Size : 47,6 Mb
Release : 1985
Category : Electronic
ISBN : OCLC:1072395231
Author : Jacob A. Frenkel,Morris Goldstein,Paul R. Masson
Publisher : Unknown
Page : 90 pages
File Size : 43,9 Mb
Release : 1988
Category : Economic policy
ISBN : UCSD:31822004978433
This paper discusses the scope, methods, the effects of international coordination of economic policies. In addressing the scope for and of coordination, the analysis covers the rationale for coordination, barriers to coordination, the range and specificity of policies to be coordinated, the frequency of coordination, and the size of the coordinating group. Turning to the methods of coordination, the emphasis is on the broad issues of rules versus discretion, single-indicator versus multi-indicator approaches, and hegemonic versus more symmetric systems. In an attempt to shed some light on the effects of alternative rule- based proposals for coordination, we present some simulations of a global macroeconomic model (MULTIMQD) developed in the International Monetary Fund. The simulations considered range from 'smoothing rules for monetary and fiscal policy that imply only minimal international coordination, to more activist "target-zone" proposals that place greater restrictions on national authorities in the conduct of monetary and/or fiscal policies. The simulation results are compared to the actual evolution of the world economy over the 1974-87 period. Our findings suggest that simple mechanistic rule-based proposals are unlikely to lead to improved performance
Author : John Hein
Publisher : Unknown
Page : 20 pages
File Size : 48,5 Mb
Release : 1983
Category : Economic policy
ISBN : UOM:35128000867844
