Publication:
Supply policies coordination in a monetary union

Date

2000

Director

Publisher

Acceso abierto / Sarbide irekia
Documento de trabajo / Lan gaia

Project identifier

Abstract

This paper examines how the member countries of a monetary union react to country-specific shocks and to shocks from the rest of the world, using supply-side policies. We develop a three-country model in which countries show different preferences regarding objectives, and face asymmetric disturbances. Two of the countries form a monetary union where an independent central bank controls monetary policy, and supply policies are determined by the authorities at the national level. In this framework, we analyse in strategic terms how the authorities can deal with monetary, real and supply shocks, and discuss the welfare aspects of the optimal solution and the extent to which a coordinated supply-side policy may be useful to deal with those shocks.

Description

Keywords

Monetary union, Supply side policies, Policy coordination

Department

Economía / Ekonomia

Faculty/School

Degree

Doctorate program

item.page.cita

item.page.rights

CC Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)

Los documentos de Academica-e están protegidos por derechos de autor con todos los derechos reservados, a no ser que se indique lo contrario.