Control and Coordination of Economic Activity
In: Problems of the Planned Economy, S. 63-72
1789825 Ergebnisse
Sortierung:
In: Problems of the Planned Economy, S. 63-72
In: Occasional papers Occasional paper no. 61
This chapter discusses various aspects of policy coordination in the European Monetary System (EMS). The purpose of the first paper in this chapter is to provide a survey of the process of European monetary integration, with focus on the EMS, its purposes, evolution, and the experience gathered since its establishment in early 1979. In its present stage of evolution, the EMS has developed a body of general institutional procedures to promote consistency among the policies and objectives of participating countries. The search for consistency inevitably gives rise to consequent constraints, such as those implicit in the specific rules on exchange rate and international reserve management that characterize the exchange rate mechanism (ERM). By drawing on an analysis of the role of monetary policy in balance of payments adjustment under different monetary systems and exchange rate arrangements, the second paper focuses on the crucial issues involved when an attempt is made to set rules for monetary policy coordination in a system of fixed but adjustable exchange rates such as the EMS
In: International Studies Quarterly, Band 38, Heft 3, S. 475
In: International studies quarterly: the journal of the International Studies Association, Band 38, Heft 3, S. 475-498
ISSN: 0020-8833, 1079-1760
In: Journal of common market studies: JCMS, Band 15, S. 272-287
ISSN: 0021-9886
In: Pacific affairs, Band 71 (1998/99), Heft 1, S. 41-50
ISSN: 0030-851X
World Affairs Online
In: Journal of public policy, Band 8, Heft 3-4, S. 235-263
ISSN: 1469-7815
ABSTRACTThis paper stresses the importance of taking domestic economic structures and political pressures into account when considering issues of international macroeconomic policy coordination. The existence of domestic biases can cause policy coordination to increase rather than reduce macroeconomic instability. The paper offers a survey of the literature on national macroeconomic policy preferences and inflation unemployment tradeoffs. While this research is still in its infancy, it is clear that there are important differences across countries which must be taken into account in designing coordination strategies.
In: The annals of the American Academy of Political and Social Science, Band 171, Heft 1, S. 268-276
ISSN: 1552-3349
In: Global policy: gp, Band 13, Heft 4, S. 458-468
ISSN: 1758-5899
AbstractWe show as emerging markets (EMs) size crosses a threshold it is in advanced economies (AEs) own interest to reduce negative spillovers to EMs. It follows the potential for international cooperation in macroeconomic and prudential policy increases. But entrenched perceptions and historical advantages are obstacles. These blocks are explored as well as possibilities in macroeconomic policies and in prudential regulation. Export of capital is a major way AEs earn a share in EM income. AE macroeconomic policy and volatile capital outflows from AEs are a source of negative spillovers for EMs, but preventive prudential regulation is not adequate in AEs. More regulation is likely to reduce short‐term returns to capital flows but not long‐term, since with fewer crises both AE and EM income streams would rise. Moreover, there is some evidence excess capital flow volatility has adverse effects on AEs themselves. It follows universal macro‐prudential polices would benefit both country groups.
In: NBER Working Paper No. w32113
SSRN
In: CESifo Working Paper No. 10935
SSRN
This paper deals with problems of fiscal consolidation and policy coordination within the European Monetary Union. In the first place, it investigates the potential problems which are caused by cross-country differences in key fiscal parameters and the asymmetric nature of these parameters. In the light of these findings, the pros and cons of policy coordination is evaluated using some alternative multi-country estimates as a point of reference. The empirical results clearly show that policy coordination within the EMU context is difficult because of these large country differences and asymmetries in the transmission mechanisms of fiscal policy. Even so, it is shown that policy coordination clearly pays off.
BASE
In: New York University journal of international law & politics, Band 19, Heft 4, S. 857
ISSN: 0028-7873
In: Cornell Studies in Political Economy
Frontmatter -- Contents -- Preface -- 1. Coordinating Macroeconomic Adjustment Policy -- 2. The Structure of the International System and Patterns of Policy Coordination -- 3. Insulation and Symptom Management, 1945-55 -- 4. Symptom Management, 1956-70 -- 5. Flexible Exchange Rates and the Search for Policy Autonomy, 1971-77 -- 6. Macroeconomic Conflict and Coordination, 1978-94 -- 7. Conclusions: International Structures, Domestic Politics and Policy Coordination -- Index