Chapter 1 Monetary and Fiscal Cooperation: The Model

  • Michael Carlberg
Chapter

Abstract

The world economy consists of two monetary regions, say Europe and America. The monetary regions are the same size and have the same behavioural functions. The targets of policy cooperation are zero inflation in Europe, zero inflation in America, zero unemployment in Europe, and zero unemployment in America.

Keywords

Monetary Policy Loss Function Central Bank Fiscal Policy Spillover Effect 
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Copyright information

© Springer-Verlag Berlin Heidelberg 2012

Authors and Affiliations

  • Michael Carlberg
    • 1
  1. 1.Department of EconomicsHelmut Schmidt UniversityHamburgGermany

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