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?
| ISBN: | 9783642442667 |
| Publication date: | 5th October 2014 |
| Author: | Michael Carlberg |
| Publisher: | Springer an imprint of Springer Berlin Heidelberg |
| Format: | Paperback |
| Pagination: | 347 pages |
| Genres: |
Macroeconomics Labour / income economics International economics |
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?
Dynamic Policy Interactions in a Monetary Union features in the following genres: Macroeconomics, Labour / income economics, International economics
Dynamic Policy Interactions in a Monetary Union is available in Paperback, Hardback
Dynamic Policy Interactions in a Monetary Union was written by Michael Carlberg and published by Springer an imprint of Springer Berlin Heidelberg
Dynamic Policy Interactions in a Monetary Union has 347 pages