Macroeconomic Policies in the World EconomyHorst Siebert Springer Science & Business Media, 2 août 2004 - 348 pages The integration of goods and financial markets has progressed on a global scale in recent years. Thus, the cyclical patterns in the world economy may have changed too. Against this background, experts in international economics analyze the synchronization of business cycles and their volatility in this book. Is there an European business cycle? What is the role of multinational corporations and monetary policy in transmitting business cycles? Further, they discuss the need and feasibility of internationally coordinating monetary and exchange rate policies and the quantitative effects of tax competition. |
Table des matières
Have National Business Cycles Become More Synchronized? | 3 |
Comment | 40 |
Is There a European Business Cycle? | 53 |
Comment | 80 |
An Empirical Exploration | 89 |
Comment | 123 |
Skew Lines or Arbitrage Opportunities? | 133 |
Comment | 156 |
Asset Price Booms and Monetary Policy | 189 |
Comment | 228 |
Macroeconomic Policy Coordination in Europe An Agnostic View | 235 |
Comment | 262 |
A Critical Review of Coordination Efforts in the Past | 267 |
Comment | 311 |
Winners and Losers of Tax Competition in the European Union | 315 |
Comment | 339 |
How Does International Economic Integration Influence Social Inequalities in Emerging Market Economies? | 163 |
Comment | 179 |
List of Contributors | 345 |
Expressions et termes fréquents
adjust affiliates American Economic Review asset price booms average Borio Bretton Woods business cycle synchronization capital income tax central bank changes coefficients common shock comovement consumption taxes cross-country deficit deviation discussion domestic economic policy effects equilibrium equity prices euro area European Central Bank example factor financial integration fiscal policy fluctuations foreign foreign exchange market G-7 countries Germany global shocks globalization period growth rates high-cost booms increase industrial countries inflation interest rate international business cycle international economic integration International Monetary Fund intervention investment Japan Kose labor taxes linkages low-cost booms macroeconomic macroeconomic policy measures monetary policy multinationals nomic OECD optimal output correlations output gap paper percent policy coordination pre-boom production relative role sample share social spillovers stability Statistics structure stylized facts Table tax competition tax rates Taylor rule tion transmission mechanism trend United Kingdom variables volatility wage