International Policy Cooperation and Model Uncertainty

Gerald Holtham and Andrew Hughes Hallett
Additional contact information
Gerald Holtham: Brookings Institution

Chapter 5 in Global Macroeconomics: Policy Conflict and Cooperation, 1987, pp 128-184 from Palgrave Macmillan

Abstract: Abstract Since the work of Hamada (1974, 1976) a prima facie case has been established for the international coordination of macroeconomic policy. In a world where policies have spill-over effects on other economies, and in which governments have more policy targets than instruments, independent policy-making is generally sub-optimal; cooperation is required to reach a Pare to optimum. One obvious way in which policy changes in one country can impose externalities on another is through exchange rate movements.

Keywords: Exchange Rate; Nash Equilibrium; Monetary Policy; Model Uncertainty; Trade Balance (search for similar items in EconPapers)
Date: 1987
References: Add references at CitEc
Citations: View citations in EconPapers (12)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Working Paper: International Policy Cooperation and Model Uncertainty (1987)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-18916-8_5

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349189168

DOI: 10.1007/978-1-349-18916-8_5

Access Statistics for this chapter

More chapters in International Economic Association Series from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().