- Autor
- Plasmans Joseph (University of Antwerp, Belgium; CentER Tilburg University, Netherlands), Engwerda Jacob (CentER Tilburg University), van Aarle Bas (Maastricht University , Netherlands), Michalak Tomasz (University of Antwerp, Belgium, student)
- Tytuł
- Macroeconomic Effects of a Monetary Union Enlargement: Theoretical Analysis in the Framework of Linear-Quadratic Differential Games
- Źródło
- FindEcon Monograph Series : advances in financial market analysis, 2006, nr 1, s. 221-243, rys., tab., bibliogr. s. 242-243
- Tytuł własny numeru
- Financial markets : principles of modeling forecasting and decision-making
- Słowa kluczowe
- Unia Gospodarcza i Walutowa (UGW), Rozszerzenie UE, Analiza makroekonomiczna
Economic and Monetary Union (EMU), EU enlargement, Macroeconomic analysis - Abstrakt
- Chapter 15 is devoted to macroeconomic policy coordination in the EMU within the framework of linear-quadratic differential games. The methodology captures externalities, spillovers and strategic behavior of players. It gives insights into endogenous coalition formation which enable to study a creation and stability of different cooperation arrangements. It has been found that the net effects of accession depend in particular on the following factors: the regime of policy coordination before and after accession, the type of macroeconomic shock and its degree of asymmetry, the degree of symmetry between countries in terms of economic structure, size and policy preferences. Chapter 16 deals with an econometric approach. (fragment of text)
- Dostępne w
- Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie
Biblioteka Główna Uniwersytetu Ekonomicznego w Poznaniu - Pełny tekst
- Pokaż
- Bibliografia
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- Aarle B. van, Di Bartolomeo Q., Engwerda J., Plasmans J. (2002), "Coalitions and Dynamic Interactions between Fiscal and Monetary Authorities in the EMU", Ifo Studien, 48(2). 207-229.
- Aarle B. van, Di Bartolomeo G., Engwerda J., Plasmans J. (2004), "Policymakers' Coalitions and Stabilization Policies in the EMU", Journal of Economics, 82(1). 1-24.
- Angeloni I., Kashyap A., Mojon B., Terlizzese D. (2002). "Monetary Transmission in the Euro-area: Where Do We Stand?", Frankfurt: ECB Working Paper, 114.
- Di Bartolomeo G., Engwerda J., Plasmans J., van Aarle B., Michalak T. (2006), "Staying Together or Breaking Apart: Policy-makers' Endogenous Coalitions Formation in the
- European Economic and Monetary Union". Computers and Operations Research. Bohn, F. (2004], "Monetary union and the Interest-Exchange Rate Trade-off", Open Economies Review, 15. 111-141.
- Boone L., Maurel M. [1999), "Economic Convergence of the CEECs with the EU", CEPR Discussion Paper, 2018.
- Engwerda J. (1993). "Computational Aspects of the Open-Loop Nash Equilibrium in Linear Quadratic Games", Journal of Economic Dynamics and Control, 22, 1487-1506.
- Engwerda J., van Aarle B., Plasmans J. (1999), "The (In)Finite Horizon Open-Loop Nash LQ Game: An Application to the EMU". Annals of Operations Research, 88, 251-273.
- Engwerda J., van Aarle B., Plasmans J. (2002), "Cooperative and Non-Cooperative Fiscal Stabilisation Policies in the EMU", Journal of Economic Dynamics and Control, 26, 451-481.
- European Commission (2001), "Public Finances in EMU -2001", Brussels: European Economy Reports and Studies, 3.
- European Economic Advisory Group at CESifo (2004), Report on the European Economy. Munich: CESifo.
- European Parliament (1999), "EMU and Enlargement: A Review of Policy Issues". Working Paper, Directorate-General for Research, 12.
- Favero C, Freisas X., Persson T., Wypłosz C. (2000), "One Money Many Countries, Monitoring the European Central Bank 2". London: Center for Economic Policy Research.
- Fidrmuc J., Korhonen I. (2001) Similarity of Supply and Demand Shocks between the Euro Area and the CEECs", BOFIT Discussion Paper, 14.
- Hagen J. von, Lutz S. (1996). "Fiscal and Monetary Policies on the Way to EMU", Open Economies Review, 7, 299-325.
- Hooper P., Johnson K., Marquez J. (1998), "Trade Elasticities for G-7 Countries", Washington: Board of Governors of the Federal Reserve System, International Finance
- Hughes-Hallett A. J., McAdam F. (1997), "Fiscal Deficit Reductions in Line With the Maastricht Criteria for Monetary Union: An Empirical Analysis", in: Frieder J., Gros D., Jones E. (eds.), Towards European Monetary Union: Problems and Prospects, Cambridge University Press.
- Laxton D., Isard P., Faruqee H., Prasad E., Turtleboom B. (1998), "MULTI-MOD Mark III - The Core Dynamic and Steady-State Models", Washington: IMF Occasional Paper, 164.
- Michalak T., Plasmans J., Engwerda J. (2005), "Endogenous Coalition Formation in a Monetary Union", mimeo, Antwerpen: University of Antwerp.
- Plasmans J., Engwerda J., van Aarle B., Di Bartolomeo G. (2005), Dynamic Modelling of Monetary and Fiscal Cooperation Among Nations, Berlin: Springer-Verlag.
- Smets F. (2000), "What Horizon for Price Stability", Frankfurt: ECB Working Paper, 24.
- Cytowane przez
- Język
- eng
