| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1165 |
| DP1165 The Elixir of Growth: Trade, Non-Traded Goods and Development | |
| Patrick Minford; Jonathan Riley; Eric Nowell | |
| 发表日期 | 1995-05-31 |
| 出版年 | 1995 |
| 语种 | 英语 |
| 摘要 | In this paper we study the adjustment of a N-country world economy to an unfavourable common supply shock. We show that world-wide monetary policy coordination is essential to achieve an optimal adjustment to the common shock, but that its actual implementation requires careful design to ensure that each country finds it optimal to join and to remain faithful to the coordination agreement. We then construct alternative coordination mechanisms which implement the first-best response to the common shock, discuss their main properties and rank them according to different criteria of desirability. |
| 主题 | International Macroeconomics |
| 关键词 | Coordination Emu Institutions Majority voting Mechanism design Monetary unions Open economy Strategic conflict |
| URL | https://cepr.org/publications/dp1165 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530310 |
| 推荐引用方式 GB/T 7714 | Patrick Minford,Jonathan Riley,Eric Nowell. DP1165 The Elixir of Growth: Trade, Non-Traded Goods and Development. 1995. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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