Atish R. Ghosh, Paul R. Masson

Economic Cooperation in an Uncertain World

• Gebundenes Buch

Produktbeschreibung

"Economic Cooperation in an Uncertain World" examines the case of international policy coordination in the face of macroeconomic uncertainties. It begins by developing a theoretical framework for analyzing the benefits of coordination when there is uncertainty about the effects of macroeconomic policies. As an illustration, this framework is applied to analyze the efforts of the central banks of the major industrialized countries to deal with the global stock market crash of October 1987.

Produktdetails

• Verlag: Wiley
• New
• Seitenzahl: 256
• Erscheinungstermin: Juni 1994
• Englisch
• Abmessung: 235mm x 157mm x 22mm
• Gewicht: 651g
• ISBN-13: 9781557863065
• ISBN-10: 1557863067
• Artikelnr.: 22243442

Autorenporträt

Atish R. Ghosh is Assistant Professor of Economics andInternational Affaires at the Woodrow Wilson School of Public andInternational Affairs and the Department of Economics, PrincetonUniversity. He has written extensively on iseeues in internatioanlmacroeconomics, including the effects of fiscal policies in theglobal economy, the nature of international capital flows, exchangerate determination, and monetary and fiscal policy coordination.

Paul R. Masson is Assistant Director of the European IDepartment of the International Monetary Fund. Before joining theFund he worked at the Bank of Canada and the OECD. His publicationsinclude books and articles in various fields of macroeconomics andinternational economies, including policy coordination, currencyunions and monetary and exchange rate models.

Inhaltsangabe

1. Introduction.

2. A Theoretical Framework for Modelling the Open Economy.

3. The Theory of Policy Coordination Under Uncertainty.

4. An Example: The Stock market Crash of October 1987.

5. Alternative Empirical Models of the Open Economy.

6. Model Uncertainty and the Gains from Coordination: AnEmpirical Analysis.

7. Cooperation versus Coordination.

8. On the Sustainability of Cooperative Agreements.

9. Issues in Bargaining.

10. Conclusions.

Appendix - Cooperation and Coordination in HistoricalPerspective.

Bibliography.

Index.

Rezensionen

"Ghosh and Masson were the first to analyze model uncertainty in the context of racional decision making. And when they did they found that it could actually be an argument for policy coordination. Since this runs counter to the conventional wisdom of policy makers, it is a very important observation." Matthew B. Canzoneri- Professor of Economics, Georgetown University