International Coordination of Fiscal Policies
Title | International Coordination of Fiscal Policies PDF eBook |
Author | International Monetary Fund |
Publisher | International Monetary Fund |
Pages | 40 |
Release | 1988-08-04 |
Genre | Business & Economics |
ISBN | 1451960239 |
International coordination of macroeconomic policies has attracted much attention in recent years. The main issue has been whether economic performance can be improved by coordination Although it is still a controversial issue many economists have argued that coordination would make a positive contribution to economic performance. This paper deals with the requirements for successful fiscal coordination. It concludes that those requirements are such that the best fiscal policies that countries can pursue are those aimed at putting their houses in order.
International Coordination of Economic Policies
Title | International Coordination of Economic Policies PDF eBook |
Author | International Monetary Fund |
Publisher | International Monetary Fund |
Pages | 59 |
Release | 1988-06-29 |
Genre | Business & Economics |
ISBN | 1451969821 |
This paper discusses the scope, methods, and effects of international coordination of economic policies. In analyzing the scope for and of coordination, the paper addresses the rationale for coordination, barriers to coordination, the range and specificivity of policies to be coordinated, and the frequency of coordination. In evaluating the methods of coordination, the emphasis is on the broad issues of rules versus discretion, single-indicator versus multi-Indicator systems, and hegemonic versus symmetric systems. Finally, using the MULTIMOD global macroeconomic model, some simulations are presented of several rule-based proposals for coordination.
International Coordination of Fiscal Policies
Title | International Coordination of Fiscal Policies PDF eBook |
Author | Vito Tanzi |
Publisher | |
Pages | 40 |
Release | 2006 |
Genre | |
ISBN |
International coordination of macroeconomic policies has attracted much attention in recent years. The main issue has been whether economic performance can be improved by coordination. Although it is still a controversial issue many economists have argued that coordination would make a positive contribution to economic performance. This paper deals with the requirements for successful fiscal coordination. It concludes that those requirements are such that the best fiscal policies that countries can pursue are those aimed at putting their houses in order.
International Economic Policy Coordination
Title | International Economic Policy Coordination PDF eBook |
Author | Michael Carlberg |
Publisher | Springer Science & Business Media |
Pages | 336 |
Release | 2005-03-04 |
Genre | Business & Economics |
ISBN | 9783540244455 |
This book studies the international coordination of monetary and fiscal policies in the world economy. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on monetary and fiscal competition between Europe and America. Similarly, as to policy cooperation, the focus is on monetary and fiscal cooperation between Europe and America. The spillover effects of monetary policy are negative while the spillover effects of fiscal policy are positive. The policy targets are price stability and full employment. The policy makers follow either cold-turkey or gradualist strategies. Policy expectations are adaptive or rational. The world economy consists of two, three or more regions. The present book is part of a larger research project on European Monetary Union, see the references at the back of the book. Some parts of this project were presented at the World Congress of the International Economic Association in Lisbon. Other parts were presented at the International Institute of Public Finance, at the Macro Study Group of the German Economic Association, at the Annual Meeting of the Austrian Economic Association, at the Gottingen Workshop on International Economics, at the Halle Workshop on Monetary Economics, at the Research Seminar on Macroeconomics in Freiburg, and at the Passau Workshop on International Economics.
Domestic Policies and the International Coordination of Fiscal Policies
Title | Domestic Policies and the International Coordination of Fiscal Policies PDF eBook |
Author | Guido Enrico Tabellini |
Publisher | |
Pages | |
Release | 1988 |
Genre | |
ISBN |
Coordination of Monetary and Fiscal Policies
Title | Coordination of Monetary and Fiscal Policies PDF eBook |
Author | International Monetary Fund |
Publisher | International Monetary Fund |
Pages | 33 |
Release | 1998-03-01 |
Genre | Business & Economics |
ISBN | 1451844239 |
Recently, monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence. Simultaneously, in the fiscal area, market development has allowed public debt managers to focus more on cost minimization. This “divorce” of monetary and debt management functions in no way lessens the need for effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the long term. This paper analyzes these issues based on a review of the relevant literature and of country experiences from an institutional and operational perspective.
International Coordination of Economic Policies
Title | International Coordination of Economic Policies PDF eBook |
Author | Jacob A. Frenkel |
Publisher | |
Pages | 90 |
Release | 1988 |
Genre | Economic policy |
ISBN |
This paper discusses the scope, methods, the effects of international coordination of economic policies. In addressing the scope for and of coordination, the analysis covers the rationale for coordination, barriers to coordination, the range and specificity of policies to be coordinated, the frequency of coordination, and the size of the coordinating group. Turning to the methods of coordination, the emphasis is on the broad issues of rules versus discretion, single-indicator versus multi-indicator approaches, and hegemonic versus more symmetric systems. In an attempt to shed some light on the effects of alternative rule- based proposals for coordination, we present some simulations of a global macroeconomic model (MULTIMQD) developed in the International Monetary Fund. The simulations considered range from 'smoothing rules for monetary and fiscal policy that imply only minimal international coordination, to more activist "target-zone" proposals that place greater restrictions on national authorities in the conduct of monetary and/or fiscal policies. The simulation results are compared to the actual evolution of the world economy over the 1974-87 period. Our findings suggest that simple mechanistic rule-based proposals are unlikely to lead to improved performance