Monetary and Fiscal Strategies in the World Economy

  • Michael Carlberg

Table of contents

  1. Front Matter
    Pages I-XII
  2. Michael Carlberg
    Pages 1-10
  3. The Closed Economy Absence of a Deficit Target

    1. Front Matter
      Pages 12-12
    2. Michael Carlberg
      Pages 13-17
    3. Michael Carlberg
      Pages 18-22
    4. Michael Carlberg
      Pages 23-24
    5. Michael Carlberg
      Pages 25-31
  4. The Closed Economy Presence of a Deficit Target

    1. Front Matter
      Pages 34-34
    2. Michael Carlberg
      Pages 35-40
    3. Michael Carlberg
      Pages 41-46
    4. Michael Carlberg
      Pages 47-51
  5. Monetary Policies in Europe and America

  6. Fiscal Policies in Europe and America Absence of a Deficit Target

    1. Front Matter
      Pages 100-100
    2. Michael Carlberg
      Pages 101-112

About this book


This book studies the strategic interactions between monetary and fiscal policies in the world economy. The world economy consists of two regions, say Europe and America. The policy makers are the central banks and the governments. The policy targets are low inflation, low unemployment, and low structural deficits. There are demand shocks, supply shocks, and mixed shocks. There are regional shocks and common shocks. This book develops a series of basic, intermediate, and more advanced models. Here the focus is on the Nash equilibrium. The key questions are: Given a shock, can policy interactions reduce the existing loss? And to what extent can they do so? Another topical issue is policy cooperation. To illustrate all of this there are a lot of numerical examples.


Inflation International Economy Monetary and Fiscal Policies Policy Cooperation Strategic Interactions Unemployment

Authors and affiliations

  • Michael Carlberg
    • 1
  1. 1.Universität der Bundeswehr HamburgHelmut-Schmidt-UniversitätHamburgGermany

Bibliographic information

  • DOI
  • Copyright Information Springer-Verlag Berlin Heidelberg 2010
  • Publisher Name Springer, Berlin, Heidelberg
  • eBook Packages Business and Economics
  • Print ISBN 978-3-642-10475-6
  • Online ISBN 978-3-642-10476-3
  • About this book