Title
Staying together or breaking apart: policy-makers' endogenous coalitions formation in the European Economic and Monetary Union Staying together or breaking apart: policy-makers' endogenous coalitions formation in the European Economic and Monetary Union
Author
Faculty/Department
Faculty of Applied Economics
Publication type
report
Publication
Antwerpen :UFSIA, [*]
Source (series)
Research paper / Faculty of Applied Economics UFSIA-RUCA ; 2002:013
Volume/pages
28 p.,
Carrier
E
Target language
English (eng)
Affiliation
University of Antwerp
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.
Full text (open access)
https://repository.uantwerpen.be/docman/irua/1b7baf/1dc34807.pdf
Handle