Coalitions in International Monetary Policy Games

Marion Kohler

Economics Working Papers from European University Institute

Abstract: A well-known result from the analysis of the monetary policy coordination of two countries is that coordination of the two policies pareto-dominates the outcome of the non-cooperative game. Hence, both countries will always have an incentive to form a Union when it is ensured that the other country joins it as well. We show in a n-country (symmetric) framework that the two-country result cannot be extended straightforwardly.

Keywords: ECONOMETRICS; INTERNATIONAL MONETARY SYSTEM; MONETARY POLICY (search for similar items in EconPapers)
JEL-codes: C7 F33 (search for similar items in EconPapers)
Pages: 35 pages
Date: 1996
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eui:euiwps:eco96/07

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