International Economic Policy Coordination
This volume, based on a conference organized jointly by the Centre for Economic Policy Research and the National Bureau of Economic Research, examines recent developments in the study of international economic policy coordination. The conference brought together leading academic and government economists working in this area. Eight papers were presented, and the meeting concluded with a panel discussion on the prospects for international policy coordination.
There has recently been a revival of interest in the study of the international coordination of economic policy. No doubt the current debate about the mix of monetary and fiscal policy in the United States and Europe has encouraged interest in this subject. This volume presents some of the best current research on this important topic. The papers focus on several issues of importance in determining the desirability of international policy coordination: the nature of the transmission effects by which one country's policies affect another country; the trade-off between the current and future effects of policies, and the credibility of government policy when undertaken unilaterally or coordinated internationally.