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Strategic Policy Interactions in a Monetary Union Softcover reprint of hardcover 1st ed. 2009 Edition
Author(s): Michael Carlberg (Author)
- Publisher: Springer
- Publication Date: 19 Oct. 2010
- Edition: Softcover reprint of hardcover 1st ed. 2009
- Language: English
- Print length: 272 pages
- ISBN-10: 3642100848
- ISBN-13: 9783642100840
Book Description
This book studies the strategic policy interactions in a monetary union. It develops a series of basic, intermediate, and more advanced models and provides readers with a practical grasp of the macroeconomic principles necessary to understand a monetary union.
Editorial Reviews
From the Back Cover
This book studies the strategic policy interactions in a monetary union. The leading protagonists are the European Central Bank and national governments. The target of the ECB is low inflation in Europe. The targets of a national government are low unemployment and a low structural deficit. There are demand shocks, supply shocks, and mixed shocks. There are country-specific shocks and common shocks. This book develops a series of basic, intermediate, and more advanced models. Here the focus is on the Nash equilibrium. The key questions are: Given a shock, can policy interactions reduce the existing loss? And to what extent can they do so? Another topical issue is policy cooperation. To illustrate all of this there are a lot of numerical examples.
