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Titre : Economic Cooperation in an Uncertain World (...
Éditeur : John Wiley and Sons Ltd, United Kingdom
Date d'édition : 1994
Reliure : Hardback
Etat du livre : New
Edition : New..
Language: English . Brand New Book. 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. N° de réf. du libraire AAH9781557863065
Synopsis : Economic Cooperation in an Uncertain World examines the case of international policy coordination in the face of macroeconomic uncertainties. It begins by developing a theoretical framework for analyzing the benefits of coordination when there is uncertainty about the effects of macroeconomic policies. As an illustration, this framework is applied to analyze the efforts of the central banks of the major industrialized countries to deal with the global stock market crash of October 1987.
Critique: "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 University
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