International Economic Policy Coordination
Cambridge University Press
Edition: Revised ed., 4/13/2009
EAN 9780521337809, ISBN10: 0521337801
Paperback, 404 pages, 22.9 x 15.2 x 2.6 cm
Language: English
This volume, first published in 1985 and based on a conference organised jointly by the Centre for Economic Policy Research and the National Bureau of Economic Research, examines developments in the study of international economic policy coordination. Eight papers were presented, and the meeting concluded with a panel discussion on the prospects for international policy coordination. In past years, there has been a revival of interest in the study of the international coordination of economic policy in the United States and Europe. This volume presents some of the best research on this important topic. The papers focus on several issues of importance in determining the desirability of international policy coordination: the nature of the transmission effects by which one country's policies affect another country; the trade-off between the current and future effects of policies, and the credibility of government policy when undertaken unilaterally or coordinated internationally.
List of tables
List of figures
Preface
List of contributors
Introduction Willem H. Buiter and Richard C. Marston
1. On transmission and coordination under flexible exchange rates W. Max Corden
Comment Dale W. Henderson
Comment Georges De Menil
2. Fiscal expenditures and international economic interdependence Jacob A. Frenkel and Assaf Razin
Comment Matthew B. Canzoneri
Comment David Vines
3. The effects of American policies - a new classical interpretation Patrick Minford
4. International policy coordination in historical perspective
a view from the interwar years Barry Eichengreen
5. Policy coordination and dynamic games Marcus Miller and Mark Salmon
Comment Ralph C. Bryant
Comment Stephen J. Turnovsky
6. Macroeconomic policy design in an interdependent world David Currie and Paul Levine
Comment David K. H. Begg
Comment Koichi Hamada
7. International policy coordination in dynamic macroeconomic Gilles Oudiz and Jeffrey Sachs
Comment Jorge Braga de Macedo
Comment Kenneth Rogoff
8. Policy cooperation and the EMS experience Tommaso Padoa Schioppa
Comment Michael J. Artis
Comment Jeffrey R. Shafer
9. Panel discussion
the prospects for international economic policy coordination William H. Branson, Richard N. Cooper, Michael Emerson, Louka T. Katseli and Stephen Marris
Index.