Published by Springer; 1st edition; 2011. ISBN-10:
3642182275. ISBN-13: 978-
3642182273. (361 pages).
Contents : Some Basic Models - Monetary Policy in Europe - Fiscal Policy in Germany - First the Central Bank Decides, then the Govements Decide - First the Govements Decide, then the Central Bank Decides - Central Bank and Govements Decide Simultaneously and Independently Cold-Turkey Policies - Central Bank and Govements Decide Simultaneously and Independently Gradualist Policies - Central Bank and Govements Cooperate.
This book studies the dynamics of monetary and fiscal interactions in the Euro Area. The policy makers are the European Central Bank and national govements. The primary target of the ECB is low inflation. And the primary target of a national govement 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?
3642182275. ISBN-13: 978-
3642182273. (361 pages).
Contents : Some Basic Models - Monetary Policy in Europe - Fiscal Policy in Germany - First the Central Bank Decides, then the Govements Decide - First the Govements Decide, then the Central Bank Decides - Central Bank and Govements Decide Simultaneously and Independently Cold-Turkey Policies - Central Bank and Govements Decide Simultaneously and Independently Gradualist Policies - Central Bank and Govements Cooperate.
This book studies the dynamics of monetary and fiscal interactions in the Euro Area. The policy makers are the European Central Bank and national govements. The primary target of the ECB is low inflation. And the primary target of a national govement 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?