The International Economic Policy Coordination Instrument
Author: David B. Timmins
Publisher: Lanham : University Press of America
Published: 1985
Total Pages: 144
ISBN-13:
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Author: David B. Timmins
Publisher: Lanham : University Press of America
Published: 1985
Total Pages: 144
ISBN-13:
DOWNLOAD EBOOKAuthor: International Monetary Fund
Publisher: International Monetary Fund
Published: 1988-06-29
Total Pages: 59
ISBN-13: 1451969821
DOWNLOAD EBOOKThis paper discusses the scope, methods, and effects of international coordination of economic policies. In analyzing the scope for and of coordination, the paper addresses the rationale for coordination, barriers to coordination, the range and specificivity of policies to be coordinated, and the frequency of coordination. In evaluating the methods of coordination, the emphasis is on the broad issues of rules versus discretion, single-indicator versus multi-Indicator systems, and hegemonic versus symmetric systems. Finally, using the MULTIMOD global macroeconomic model, some simulations are presented of several rule-based proposals for coordination.
Author: William H. Branson
Publisher: University of Chicago Press
Published: 2007-12-01
Total Pages: 396
ISBN-13: 0226071383
DOWNLOAD EBOOKSince the five largest industrial democracies concluded the Plaza Agreement in 1985, the theory and practice of international economic policy coordination has become the subject of spirited academic and public-policy debate. While some view policy coordination as crucial for the construction of an improved international monetary system, others fear that it risks delaying or weakening the implementation of macroeconomic and structural policies. In these papers and comments, prominent international economists consider past and present interpretations of the meaning of international policy coordination; conditions necessary for coordination to be beneficial both to the direct participants and the global economy; influential factors for the quantitative impact of coordination; obstacles to coordination; the most—and least—effective methods of coordination; and future directions of the coordination process, including processes associated with greater fixity of exchange rates. These studies will be readily accessible to policymakers, while offering sophisticated analyses to interested scholars of the global economy.
Author: Wilfried Guth
Publisher: International Monetary Fund
Published: 1988-12-15
Total Pages: 240
ISBN-13: 9781557750259
DOWNLOAD EBOOKThis volume, which presents the proceedings of a seminar moderated by Wilfred Guth in Hamburg, Germany, dicusses the extent of international policy coordination, its effectiveness, and how it can be expected to work in the future.
Author: Jacques Jacobus Polak
Publisher:
Published: 1981
Total Pages: 36
ISBN-13:
DOWNLOAD EBOOKAuthor: H. J. Blommestein
Publisher:
Published: 1991
Total Pages: 248
ISBN-13:
DOWNLOAD EBOOKThe "reality" of international economic policy coordination is the subject of this book. This reality comprises the objectives of policy-makers, the various constraints faced by policy makers, and current economic knowledge about international coordination. The treatment of the subject matter is unique because the principal authors have first-hand knowledge based on their current or past involvement in the process of international economic policy coordination. This makes the book important and stimulating for both policy makers and academic specialists in this field. The study provides an in-depth analytical overview of the most important topics in the area of international coordination: the role of institutions, fiscal policy, tax policy, the international monetary system, the European monetary system, policy assignment rules and exchange rate regimes, structural policy and structural reform, methods and empirical effects of international policy coordination.
Author: Jacob A. Frenkel
Publisher:
Published: 1988
Total Pages: 90
ISBN-13:
DOWNLOAD EBOOKThis paper discusses the scope, methods, the effects of international coordination of economic policies. In addressing the scope for and of coordination, the analysis covers the rationale for coordination, barriers to coordination, the range and specificity of policies to be coordinated, the frequency of coordination, and the size of the coordinating group. Turning to the methods of coordination, the emphasis is on the broad issues of rules versus discretion, single-indicator versus multi-indicator approaches, and hegemonic versus more symmetric systems. In an attempt to shed some light on the effects of alternative rule- based proposals for coordination, we present some simulations of a global macroeconomic model (MULTIMQD) developed in the International Monetary Fund. The simulations considered range from 'smoothing rules for monetary and fiscal policy that imply only minimal international coordination, to more activist "target-zone" proposals that place greater restrictions on national authorities in the conduct of monetary and/or fiscal policies. The simulation results are compared to the actual evolution of the world economy over the 1974-87 period. Our findings suggest that simple mechanistic rule-based proposals are unlikely to lead to improved performance
Author: Group of Thirty
Publisher:
Published: 1988
Total Pages: 56
ISBN-13:
DOWNLOAD EBOOKAuthor: Fondo Monetario Internacional
Publisher:
Published: 1988
Total Pages: 219
ISBN-13:
DOWNLOAD EBOOKAuthor: Ralph C. Bryant
Publisher: Brookings Institution Press
Published: 1995-10-01
Total Pages: 194
ISBN-13: 9780815791324
DOWNLOAD EBOOKAs cross-border transactions and economic integration among nations have increased, formerly neglected differences among the domestic economic policies of nations have become progressively exposed to international scrutiny. National governments trying to pursue autonomous polices have found their decisions more difficult and the consequences of their decisions more uncertain. These trends have in turn provoked debate about whether governments should cooperate more fully when making their policy decisions. In this book, part of the Integrating National Economies series, Ralph A. Bryant considers how much national governments might benefit from coordination of their macroeconomic stabilization polices, the circumstances in which they might cooperation; and how ambitious that cooperation should be. Bryant argues that the potential benefits of attempted coordination are often greater than the potential risks. When national decisionmakers take into account the cross-border spillovers of their actions, and especially if the are prepared to consider mutually beneficial adjustments of their policy instruments, each cooperating nation may be able to attain higher levels of welfare. Bryant discusses circumstances in which efforts to coordinate could prove counterproductive. On the whole, however, he contends that efforts to coordinate policies internationally typically deserve examination and, frequently, can be expected to advance the common interests of nations' citizens. Bryant identifies and analyzes different forms of intergovernmental cooperation for monetary, fiscal, and exchange rate policies. One of the contributors of the book compares and evaluates three different analytical perspectives: the traditional policy-optimization approach favored by economists, the rule analysis of international regime environments, and the institutional analysis developed by scholars of international relations and political science. The book concludes with an o