Policy Coordination in a Monetary Union

A comprehensive study of the international coordination of economic policy in a monetary union. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on competition between the union central bank, the German government, and the French government. Similarly, as to policy cooperation, the focus is on cooperation between the union central bank, the German government, and the French government. The key questions are: Does the process of policy competition lead to full employment and price stability? Can these targets be achieved through policy cooperation? And is policy cooperation superior to policy competition? Another important issue is monetary competition / monetary cooperation between Europe and America.

After the introduction of the Euro, the book shows the mechanism of the policy coordination in the European Union and the relation with the United States Includes supplementary material: sn.pub/extras

Inhalt

1. The Basic Model.- 2. Monetary Policy in the Union.- 3. Fiscal Competition between Germany and France.- 4. Fiscal Cooperation between Germany and France.- 5. Competition between the Union Central Bank, the German Government, and the French Government.- 6. Cooperation between the Union Central Bank, the German Government, and the French Government.- 7. Competition between the German Labour Union and the French Labour Union.- 8. Cooperation between the German Labour Union and the French Labour Union.- 9. Competition between the Central Bank, the German Labour Union, and the French Labour Union.- 10. Cooperation between the Central Bank, the German Labour Union, and the French Labour Union.- 11. Inflation in Germany and France.- 1. The Basic Model.- 2. Monetary Competition between Europe and America.- 3. Monetary Cooperation between Europe and America.- 4. Fiscal Competition between Europe and America.- 5. Fiscal Cooperation between Europe and America.- 1. The Basic Model.- 2. Fiscal Competition between Germany and France.- 3. Fiscal Cooperation between Germany and France.- 4. Competition between the European Central Bank, the German Government, and the French Government.- 5. Cooperation between the European Central Bank, the German Government, and the French Government.- 1. The Small Monetary Union of Two Countries.- 2. The World of Two Monetary Regions.- 3. The Large Monetary Union of Two Countries.- Synopsis.- Conclusion.- Result.- Symbols.- A Brief Survey of the Literature.- References.