Rules, Reputation and Macroeconomic Policy Coordination

Paperback (Print)
Buy New
Buy New from BN.com
$57.29
Used and New from Other Sellers
Used and New from Other Sellers
from $54.90
Usually ships in 1-2 business days
(Save 11%)
Other sellers (Paperback)
  • All (6) from $54.90   
  • New (3) from $54.90   
  • Used (3) from $75.14   

Overview

In this book David Currie and Paul Levine address a broad range of issues concerning the design and conduct of macroeconomic policy in open economies. Adopting neo-Keynesian models for which monetary and fiscal policy have short-term real effects, they analyse active stabilisatian policies in both a single- and multi-country context. Questions addressed include: the merits of simple policy rules, policy design in the face of uncertainty, and international policy coordination. A central feature of the book is the treatment of credibility and the effect for a policy-maker's reputation of sticking to announced policies. These considerations are integrated with coordination issues to produce a unique synthesis. The volume develops optimal control methods and dynamic game theory to handle relationships between governments and conscious rational private sectors, and produces a unified, coherent approach to the subject. This book will be of interest to students and teachers of open economy macroeconomics, and to professional economists interested in using macroeconomic models in policy design.
Read More Show Less

Product Details

  • ISBN-13: 9780521104609
  • Publisher: Cambridge University Press
  • Publication date: 11/1/2008
  • Pages: 444
  • Product dimensions: 5.98 (w) x 9.02 (h) x 0.98 (d)

Table of Contents

Acknowledgements
Introduction 1
1 Macroeconomic policy design and control theory - a failed partnership? 21
2 International policy coordination - a survey 43
3 The European road to monetary union 77
4 The design of feedback rules in linear stochastic rational expectations models 95
5 Credibility and time consistency in a stochastic world 122
6 Should rules be simple? 148
7 Macroeconomic policy design using large econometric rational expectations models 176
8 Macroeconomic policy design in an interdependent world 213
9 Does international macroeconomic policy coordination pay and is it sustainable?: a two-country analysis 247
10 International cooperation and reputation in an empirical two-bloc model 288
11 Fiscal policy coordination, inflation and reputation in a natural rate world 321
12 The use of simple rules for international policy coordination 347
13 Evaluating the extended target zone proposal for the G3 385
Bibliography 407
Index 420
Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)