Macroeconomic Policy Interaction under EMU: A Dynamic Game Approach
until further notice
Number of pages
SourceOpen Economies Review, 12, 1, (2001), pp. 29-60
Article / Letter to editor
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Economische theorie en economisch beleid
Open Economies Review
SubjectInstitutional Shifts in Government and Governance in a Comparative and International Context
In this article, we study macroeconomic stabilization in the Economic and Monetary Union (EMU) using a dynamic game approach. With the aid of a stylized macroeconomic model, this article analyzes the transmission and interaction of national fiscal policies and monetary policy of the European Central Bank (ECB) in the EMU. A special focus is on the effects of labor market institutions in the participating countries and of the introduction of fiscal stringency criteria like those imposed in the Stability and Growth Pact.
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