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Macroeconomic Policy Coordination and the European Monetary System

In: Prospects for the European Monetary System

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  • Richard Portes

Abstract

Macroeconomic policy coordination is a major topic in the Report of the (Delors) Committee for the Study of Economic and Monetary Union. Indeed, its treatment of fiscal policy coordination immediately became one of the more controversial aspects of the Report. The academic literature in theoretical and applied macroeconomics over the past few years has also emphasised policy coordination (see Buiter and Marston, 1985; Bryant and Portes, 1987). This literature stresses the strategic interaction among national governments, between national central banks and finance ministries, and between the domestic policy authorities and their private sectors.

Suggested Citation

  • Richard Portes, 1990. "Macroeconomic Policy Coordination and the European Monetary System," Palgrave Macmillan Books, in: Piero Ferri (ed.), Prospects for the European Monetary System, chapter 11, pages 222-235, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-11629-4_11
    DOI: 10.1007/978-1-349-11629-4_11
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    Cited by:

    1. George Alogoskoufis & Richard Portes, 1990. "International Costs and Benefits from EMU," NBER Working Papers 3384, National Bureau of Economic Research, Inc.
    2. Patrick Artus, 1992. "Passage à l'union économique et monétaire en Europe : effets sur la croissance et les politiques budgétaires," Économie et Prévision, Programme National Persée, vol. 106(5), pages 123-137.
    3. Andrew Atkeson & Tamim Bayoumi, 1993. "Do private capital markets insure regional risk? Evidence from the United States and Europe," Open Economies Review, Springer, vol. 4(3), pages 303-324, September.
    4. Carlo Carraro, 1997. "Modelling International Policy Games: Lessons from European Monetary Coordination," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 24(3), pages 163-177, October.
    5. Patricia S. Pollard, 1993. "Macroeconomic policy effects in a monetary union," Working Papers 1993-001, Federal Reserve Bank of St. Louis.

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