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Dynamic Modeling of Monetary and Fiscal Cooperation Among Nations analyzes coordination of monetary and fiscal stabilization policies between countries and currency areas using a dynamic game approach. The first four chapters introduce the reader to the dynamics of fiscal and monetary policy cooperation. Issues covered include: fiscal coordination, fiscal stringency requirements, structural and bargaining power asymmetries and the design of monetary and fiscal policymaking in a monetary union. In the four last chapters multiple-player settings with aspects of fiscal and/or monetary coordination are analyzed using the endogenous coalition formation approach. The analysis is focused on shock and model asymmetries and issues of multi-country coordination in the presence of (possibly many) monetary unions.

This collection analyses the monetary and exchange rate strategies of the EU accession countries during the EMU (pre-) accession phase and also policy questions that will appear upon Euroarea entry.

This collection analyses the monetary and exchange rate strategies of the EU accession countries during the EMU (pre ) accession phase and also policy questions that will appear upon Euroarea entry. Written by specialists in the field, it is a must read for all economists with an interest in the rapidly evolving economies of the future EU member states. PETER BACKE Economist, Central Bank of Austria GONZALO CAPRIOLO State Undersecretary and Chief Economist, Ministry of Finance of Slovenia ATTILA CSAJBK Deputy Head of the Monetary Analysis Division, Economics Department, Magyar Nemzeti Bank (Central Bank of Hungary) CASPER G.DE VRIES Professor of Economics, Erasmus University, Rotterdam, The Netherlands JARKO FIDRMUC Economist, Central Bank of Austria RAOUL LTTEME Economist, Bank of Estonia VLADMIR LAVRAC Senior Research Fellow, Institute for Economic Research, Ljubljana, Slovenia ELISABETH LEDRUT Economist, Central Bank of The Netherlands ROMAN MATOUSEK Associate Lecturer, London Guildhall University BRUNO MERLEVEDE Researcher, Faculty of Applied Economics, University of Antwerp, Belgium JOSEPH PLASMANS Professor, Faculty of Applied Economics, University of Antwerp, Belgium LUKASZ W. RAWDANOWICZ Economist, Center for Social and Economic Research, Warsaw, Poland MARTTI RANDVEER Head of Research Department, Bank of Estonia URMAS SEPP formerly Head of Research Department at the Bank of Estonia from 1993 until his death in 2002 ANITA TACI Economist, Chief Economist Office, European Bank of Reconstruction and Development, London PIETER W. VAN FOREST Erasmus University, Rotterdam, The Netherlands CEZARY WJCIK Assistant Professor, University of Warsaw, Poland

Dynamic Modeling of Monetary and Fiscal Cooperation Among Nations analyzes coordination of monetary and fiscal stabilization policies between countries and currency areas using a dynamic game approach. The first four chapters introduce the reader to the dynamics of fiscal and monetary policy cooperation. Issues covered include: fiscal coordination, fiscal stringency requirements, structural and bargaining power asymmetries and the design of monetary and fiscal policymaking in a monetary union. In the four last chapters multiple-player settings with aspects of fiscal and/or monetary coordination are analyzed using the endogenous coalition formation approach. The analysis is focused on shock and model asymmetries and issues of multi-country coordination in the presence of (possibly many) monetary unions.

Analysing economic interdependence in the Euro Area, this book covers links between: fiscal and monetary policies; public debt and long-term interest rates; budgetary stabilisation and the level of public debt; the spillovers from structural reforms; the scope for the coordination of fiscal policies and of structural reforms; and wage flexibility.