La coordinacion internacional de la politica monetaria en presencia de perturbaciones simetricas: ¿Resulta beneficioso cooperar?

del Carmen Díaz Roldán Mª
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del Carmen Díaz Roldán Mª: Departamento de Economia - UPNA, https://www.unavarra.es/departamento-economia
Authors registered in the RePEc Author Service: Carmen Diaz-Roldan

No 9808, Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra from Departamento de Economía - Universidad Pública de Navarra

Abstract: This paper discusses the possibility of international monetary policy coordination in response to symmetric disturbances. The results show, as expected, that coordination is always useful to deal with monetary shocks. But coordination is not always the best response against real shocks, since the cooperative solution may be counterproductive when aggregate supply is relatively rigid. Finally, the benefits of coordination become evident under supply shocks, because cooperation minimizes the cost of applying an inappropriate economic policy. To conclude, the advantages of monetary policy coordination would appear clearer when monetary and supply shocks would prevail.

Keywords: Interdependencia; perturbaciones simetricas; coordinacion. (search for similar items in EconPapers)
JEL-codes: E52 E61 F42 (search for similar items in EconPapers)
Pages: 20 pages
Date: 1998-05
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