In this paper we provide two building blocks for an analysis of
international policy coordination: (1) a survey of models of policy
coordination, and (2) an account of experience with policy
coordination among the G-7 countries and within Europe since the
breakdown of the Bretton Woods System. Using these building blocks,
we investigate the correspondence between the models and experience
and attempt to draw lessons for both the modelers and the
practitioners. We find that the correspondence is close enough that
the models help in analyzing several instances of actual policy
coordination, but that the correspondence could be even closer. As
for lessons for modelers, we suggest that they devote more
attention to the analysis of information exchange, a key feature of
practical policy coordination; to the coordination of different
types of policies; to the ramifications of political divisions
within countries; and to the implications of market irrationality
and speculative bubbles. As for lessons for policy makers, we
suggest that they give more consideration to the choice of their
ultimate objectives, in particular to whether the current account
should always be close to balance; to achieving better internal
policies; and to the greater use of fiscal policy as a
stabilization tool.
General
Is the information for this product incomplete, wrong or inappropriate?
Let us know about it.
Does this product have an incorrect or missing image?
Send us a new image.
Is this product missing categories?
Add more categories.
Review This Product
No reviews yet - be the first to create one!
Welcome to Loot.co.za!
Sign in / Register |Wishlists & Gift Vouchers |Help | Advanced search
