Economic Cooperation in an Uncertain World
Published on 22. April 1994
Book
Hardback
296 pages
978-1-55786-306-5 (ISBN)
Description
In this innovative new book Ghosh and Masson re-examine the theoretical and empirical case for international macroeconomic policy coordination. In doing so they emphasize the importance of macroeconomic uncertainty in determining both the benefits from, and the obstacles to, such coordination. Written for students and professionals working in the fields of open economy macroeconomics and international relations, the book provides a comprehensive study of international policy cooperation, including the problems of negotiating and sustaining international agreements.
Reviews / Votes
"Ghosh and Masson were the first to analyze model uncertainty in the context of racional decision making. And when they did they found that it could actually be an argument for policy coordination. Since this runs counter to the conventional wisdom of policy makers, it is a very important observation." Matthew B. Canzoneri- Professor of Economics, Georgetown UniversityMore details
Edition
New
Language
English
Place of publication
Oxford
United Kingdom
Publishing group
John Wiley and Sons Ltd
Target group
College/higher education
Professional and scholarly
Dimensions
Height: 235 mm
Width: 157 mm
Thickness: 22 mm
Weight
651 gr
ISBN-13
978-1-55786-306-5 (9781557863065)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Persons
Atish R. Ghosh is Assistant Professor of Economics and International Affaires at the Woodrow Wilson School of Public and International Affairs and the Department of Economics, Princeton University. He has written extensively on iseeues in internatioanl macroeconomics, including the effects of fiscal policies in the global economy, the nature of international capital flows, exchange rate determination, and monetary and fiscal policy coordination. Paul R. Masson is Assistant Director of the European I Department of the International Monetary Fund. Before joining the Fund he worked at the Bank of Canada and the OECD. His publications include books and articles in various fields of macroeconomics and international economies, including policy coordination, currency unions and monetary and exchange rate models.
Content
1. Introduction. 2. A Theoretical Framework for Modelling the Open Economy. 3. The Theory of Policy Coordination Under Uncertainty. 4. An Example: The Stock market Crash of October 1987. 5. Alternative Empirical Models of the Open Economy. 6. Model Uncertainty and the Gains from Coordination: An Empirical Analysis. 7. Cooperation versus Coordination. 8. On the Sustainability of Cooperative Agreements. 9. Issues in Bargaining. 10. Conclusions. Appendix - Cooperation and Coordination in Historical Perspective. Bibliography. Index.