Monetary and Fiscal Policies in the Euro Area

  • Michael Carlberg

Table of contents

  1. Front Matter
    Pages I-XVI
  2. Introduction

    1. Pages 1-10
  3. Basic Models of a Monetary Union

  4. Monetary Interactions between Europe and America

  5. Fiscal Interactions between Germany and France

  6. Monetary and Fiscal Interactions Intermediate Models

  7. Monetary and Fiscal Interactions Advanced Models

  8. Rational Policy Expectations

  9. Synopsis

    1. Pages 227-230
  10. Conclusion

    1. Pages 231-258
  11. Result

    1. Pages 259-266
  12. Back Matter
    Pages 267-291

About this book


This book studies the interactions between monetary and fiscal poUcies in the euro area. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on competition between the European central bank, the American central bank, the German government, and the French government. As to policy cooperation, the focus is on the same institutions. These are higher-dimensional issues. The pohcy targets are price stability and full employment. The policy makers follow co- turkey or gradualist strategies. The policy decisions are taken sequentially or simultaneously. Monetary and fiscal policies have spillover effects. Special features of this book are numerical simulations of policy competition and numerical solutions to policy cooperation. The present book is part of a larger research project on European Monetary Union, see the references at the back of the book. Some parts of this project were presented at the World Congress of the International Economic Association. Other parts were presented at the International Conference on Macroeconomic Analysis, at the International Institute of Public Finance, at the Macro Study Group of the German Economic Association, at the Annual Meeting of the Austrian Economic Association, at the Gottingen Workshop on International Economics, at the Halle Workshop on Monetary Economics, at the Research Seminar on Macroeconomics in Freiburg, and at the Passau Workshop on International Economics.


Euro European Monetary Union Fiscal Policy International Policy Coordination Monetary Policy Wage Policy

Authors and affiliations

  • Michael Carlberg
    • 1
  1. 1.Department of EconomicsHelmut Schmidt University, Federal University of HamburgHamburgGermany

Bibliographic information

  • DOI
  • Copyright Information Springer Berlin · Heidelberg 2006
  • Publisher Name Springer, Berlin, Heidelberg
  • eBook Packages Business and Economics
  • Print ISBN 978-3-540-29799-4
  • Online ISBN 978-3-540-29800-7
  • Buy this book on publisher's site