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Title: Out in the Sunshine? Outsiders, Insiders, and the United States in 1998

Author(s): Fabio Ghironi and Francesco Giavazzi

Publication Date: January 1997

Keyword(s): European Monetary Union and International Policy Coordination

Programme Area(s): International Macroeconomics

Abstract: The paper analyses monetary and fiscal policy interactions in a three-country world, interpreted to represent two EU economies and the rest of the world. The analysis extends well-known results in the literature on international policy spillovers by investigating the effects of different sizes of the two EU economies. A set of general results is derived, which allows a reinterpretation of earlier findings in the literature on policy-making in interdependent economies.

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Bibliographic Reference

Ghironi, F and Giavazzi, F. 1997. 'Out in the Sunshine? Outsiders, Insiders, and the United States in 1998'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=1547