Boek
This book explores the scope and limits of macroeconomic policy in a monetaryunion. The focus is on pure policies policy mixes and policy coordination.The leading protagonists are the union central bank national governments andnational trade unions. Special emphasis is put on wage shocks and wagerestraint. This book develops a series of basic intermediate and advancedmodels. The monetary union is an open economy with high capital mobility. Theexchange rate between the monetary union and the rest of the world is floating.The world interest rate can be exogenous or endogenous. The union countries maydiffer in money demand consumption imports openness or size. A strikingfeature is the numerical estimation of policy multipliers. A lot of diagramsserve to illustrate the subject in hand. TOCBasic Models. The Small Countryin the Large Union. The Small Union. The Large Union. «
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