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- W1569884171 abstract "Using a four-country Mundell–Fleming model including portfolio and wealth effects, we explore the question whether some types of policy coordination could improve the outcomes of a financial shock like the Asian crisis. Time-consistent equilibria are computed: a Nash equilibrium, a target zone regime and a coalition solution. The best equilibrium for all authorities except the US government is the European coalition. Introducing a Stability Pact in Europe does not alter this result. Introducing a Fed less conservative than the ECB or the BoJ provokes a change in US preferences: both authorities give priority to the target zone regime." @default.
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- W1569884171 date "2000-05-01" @default.
- W1569884171 modified "2023-10-14" @default.
- W1569884171 title "The ECB's Monetary Policy" @default.
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- W1569884171 doi "https://doi.org/10.1016/s0161-8938(00)00017-x" @default.
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