Dynamic Policy Interactions in a Monetary Union

  • Michael Carlberg

Table of contents

  1. Front Matter
    Pages i-xii
  2. Michael Carlberg
    Pages 1-9
  3. Some Basic Models

  4. Monetary Policy in Europe

    1. Front Matter
      Pages 109-109
    2. Michael Carlberg
      Pages 111-122
    3. Michael Carlberg
      Pages 123-134
  5. Fiscal Policy in Germany

    1. Front Matter
      Pages 135-135
    2. Michael Carlberg
      Pages 137-142
    3. Michael Carlberg
      Pages 143-148
  6. First the Central Bank Decides, then the Governments Decide

    1. Front Matter
      Pages 149-149
    2. Michael Carlberg
      Pages 151-162
    3. Michael Carlberg
      Pages 163-173
    4. Michael Carlberg
      Pages 174-185
  7. First the Governments Decide, then the Central Bank Decides

    1. Front Matter
      Pages 187-187
    2. Michael Carlberg
      Pages 189-200

About this book


This book studies the dynamics of monetary and fiscal interactions in the Euro Area. The policy makers are the European Central Bank and national governments. The primary target of the ECB is low inflation. And the primary target of a national government is low unemployment. However, there is a short-run trade-off between low inflation and low unemployment. Here the main focus is on sequential policy decisions. Another focus is on simultaneous and independent policy decisions. And a third focus is on policy cooperation. There are demand shocks, supply shocks, and mixed shocks. There are country-specific shocks and common shocks. The key question is: Given a shock, what are the dynamic characteristics of the resulting process?


Dynamic Interactions European Monetary Union Inflation and Unemployment Monetary and Fiscal Policies Policy Cooperation

Authors and affiliations

  • Michael Carlberg
    • 1
  1. 1.Universität der Bundeswehr Hamburg, FB Wirtsch.-u.Organisationswissensch.Helmut-Schmidt-UniversitätHamburgGermany

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-642-18228-0
  • Copyright Information Springer-Verlag Berlin Heidelberg 2011
  • Publisher Name Springer, Berlin, Heidelberg
  • eBook Packages Business and Economics
  • Print ISBN 978-3-642-18227-3
  • Online ISBN 978-3-642-18228-0
  • About this book