Obstacles to international macroeconomic policy coordination

In: Journal of public policy, Band 8, Heft Jul-Dec 88

Abstract

Considers the effects of uncertainty on the magnitude of prospective welfare gains from international macroeconmic policy coordination. Three different sources of uncertainty are studied: the initial state of the economy; the correct welfare weights to be assigned to policy targets; and the impact on the economy that economic models attribute to policy changes. (Abstract amended)