Abstract
This book studies the dynamic policy interactions in a monetary union. The monetary union consists of two countries, say Germany and France. The policy makers are the European central bank, the German government, and the French government. Here the focus is on sequential and simultaneous policy decisions. We assume that the European central bank is independent. There is a short-run trade-off between unemployment and inflation. In other words, there is a shortrun Phillips curve.
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© 2011 Springer-Verlag Berlin Heidelberg
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Carlberg, M. (2011). Introduction. In: Dynamic Policy Interactions in a Monetary Union. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-18228-0_1
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DOI: https://doi.org/10.1007/978-3-642-18228-0_1
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Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-642-18227-3
Online ISBN: 978-3-642-18228-0
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