Publication
Title
Staying together or breaking apart: policy-makers' endogenous coalitions formation in the European Economic and Monetary Union
Author
Abstract
In this paper, we analyze coordination of macroeconomic stabilization policies within the EMU by focusing, in a dynamic set-up, on asymmetries, externalities, and the existence of a multi-country context. We study how coalitions among ¯scal and monetary authorities are formed and what are their e®ects on the stabilization of output and price. In particular, our attention is directed to study the consequences on these issues of di®erent institutional contexts in which policy-makers may act. Among other results, we found that, in the presence of externalities, the occurrence of asymmetries is a necessary but not a su±cient condition for cooperation.
Language
English
Source (series)
Research paper / Faculty of Applied Economics UFSIA-RUCA ; 2002:013
Publication
Antwerpen : UFSIA, 2002
Volume/pages
28 p.
Full text (open access)
UAntwerpen
Faculty/Department
Research group
Publication type
Affiliation
Publications with a UAntwerp address
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Creation 08.10.2008
Last edited 23.12.2015
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