A Simple Approach to International Monetary Policy Coordination

Benigno, Pierpaolo (1998) A Simple Approach to International Monetary Policy Coordination. [Working Paper]. Social Science Electronic Pub. p. 33. SSRN Working Paper Series

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This paper analyzes the strategic interaction between the monetary policies of two countries, in an intertemporal general equilibrium model with nominal rigidities and imperfect competition. It offers an excursus on non-cooperative towards cooperative solutions. All the results can be read by comparing the strength of the two biases: the monopolistic distortions and the terms of trade externalities. In the best feasible allocation, the larger country retains some monopolistic distortions while the smaller country reaches the competitive level.

Item Type: Report / Paper (Working Paper)
Research documents and activity classification: Working Papers > Non-Refereed Working Papers / of national relevance only
Divisions: Department of Business and Management
Additional Information: The definitive version of this paper has been published in "Journal of International Economics", Volume 57, Number 1, June 2002 , pp. 177-196(20)
MIUR Scientific Area: Area 13 - Economics and Statistics > SECS-P/01 Political Economy
Deposited by: Maria Teresa Nisticò
Date Deposited: 15 Nov 2010 13:15
Last Modified: 22 Apr 2015 00:13
URI: http://eprints.luiss.it/id/eprint/721


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