Macroeconomic Stabilization Policies in the Emu
Spillovers, Asymmetries and Institutions
Bibliographic Data
| ID | 10492182 |
|---|---|
| Authors | Joseph Plasmans (Tilburg University, corresponding author), Jacob Engwerda (0000-0002-2539-8786, Tilburg University), Bas van Aarle (0000-0002-5944-4939, Maastricht University), Tomasz P Michalak (0000-0002-5288-0324, University of Antwerp), Tomasz Michalak, Giovanni Di Bartolomeo (0000-0001-5016-8483, Sapienza University of Rome) |
| Year | 2006 |
| Volume | 53 |
| Issue | 4 |
| Pages | 461-484 |
| Publication date | 2006-08-08 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Scottish Journal of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0036-9292 • E-ISSN: 1467-9485 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/j.1467-9485.2006.00390.x |
| OpenAlex | W1970492108 |
| Language | EN |
| Citations received | 1 |
| References cited | 25 |
This paper studies the institutional design of the coordination of macroeconomic stabilization policies within a monetary union in the framework of linear quadratic differential games. A central role in the analysis plays the partitioned game approach of the endogenous coalition formation literature. The specific policy recommendations in the European Economic and Monetary Union (EMU) context depend on the particular characteristics of the shocks and the economic structure. In the case of a common shock, fiscal coordination or full policy coordination is desirable. When anti‐symmetric shocks are considered, fiscal coordination improves the performance but full policy coordination does not produce further gains in policymakers' welfare
Context (archaeology · Differential (mechanical device · Economics · European monetary union · European union · Fiscal policy · International economics · Macroeconomics · Market economy · Monetary economics · Monetary policy · Shock (circulatory · Stabilization policy · Welfare · Economic theories and models · Fiscal Policies and Political Economy · Monetary Policy and Economic Impact
| Unique citing works | 1 |
|---|---|
| Citations per year | 0.06 |
| Citation span | 2008 - 2008 (1) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 1 |