ISBN: 354020914x
TITLE: Policy Competition and Policy Cooperation in a Monetary Union
AUTHOR: Carlberg
TOC:

Introduction 1
Part One. The Monetary Union of Two Countries: Basie Models 9
Chapter 1. Monetary Policy in the Union 10
Chapter 2. Fiscal Competition between Germany and France 14
Chapter 3. Fiscal Cooperation between Germany and France 31
Chapter 4. Competition between the Union Central Bank, the German Government, and the French Government 39
Chapter 5. Cooperation between the Union Central Bank, the German Government, and the French Government 49
Chapter 6. Independent Central Bank, Fiscal Cooperation between Germany and France 57
Chapter 7. A Synopsis of the Basic Models 71
Part Two. The Monetary Union of Two Countries: Intermediate Models 75
Chapter 1. Fiscal Competition: A General Model 76
Chapter 2. The Union Countries Differ in Size 80
Chapter 3. The Union Countries Differ in Behaviour 86
Chapter 4. Simultaneous and Independent Decisions 92
Chapter 5. Gradualist Policies 96
Chapter 6. Alternative Targets of the Union Central Bank 100
Chapter 7. The German Government Targets Overemployment 108
Chapter B. No Spillovers of Fiscal Policy 112
Chapter 9. Positive Spillovers of Fiscal Policy 118
Part Three. The Monetary Union of Two Countries: Advanced Models 131
Chapter 1. Cold-Turkey Policies: Sequential Decisions 132
Chapter 2. Cold-Turkey Policies: Simultaneous Decisions 137
Chapter 3. Gradualist Policies: Sequential Decisions 146
Chapter 4. Gradualist Policies: Simultaneous Decisions 154
Chapter 5. Monetary, Fiscal and Wage Competition 164
Part Four. The Monetary Union of n Countries 179
Chapter 1. The Monetary Union of Three Countries 180
Chapter 2. The Monetary Union of Four Countries 202
Part Five. Rational Policy Expectations 205
Chapter 1. Rational Policy Expectations in Germany and France 206
Chapter 2. Adaptive Policy Expectations in Germany and France 218
Chapter 3. Adaptive Policy Expectations in Germany, Rational Policy Expectations in France 221
Conclusion 229
Result  261
References 273
Index 285
END
