Rules, Reputation and Macroeconomic Policy Coordination (Hardcover)

Introduction; Part I. General Issues: 1. Macroeconomic policy design and control theory - a failed partnership?; 2. International policy coordination - a survey; 3. The European road to monetary union; Part II. Theory and Methodology: 4. The design of feedback rules in linear stochastic rational expectations models; 5. Credibility and time consistency in a stochastic world; 6. Should rules be simple?; 7. Macroeconomic policy design using large econometric rational expectations models; Part III. Fiscal and monetary policy in interdependent economies: 8. Macroeconomic policy design in an interdependent world; 9. Does international macroeconomic policy coordination pay and is it sustainable?: a two-country analysis; 10. International cooperation and reputation in an empirical two-bloc model; 11. Fiscal policy coordination, inflation and reputation in a natural rate world; 12. The use of simple rules for international policy coordination; 13. Evaluating the extended target zone proposal for the G3; Bibliography; Index.