| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1545 |
| DP1545 Inventory Behaviour: A Comparative Study of UK and Japanese Firms | |
| Donald Hay; Jennifer Corbett; Eleni Louri-Dendrinou | |
| 发表日期 | 1997-01-31 |
| 出版年 | 1997 |
| 语种 | 英语 |
| 摘要 | Recent research in contract theory views ownership as a substitute for complete contracts. In this paper this approach is applied to monetary integration. Countries face a coordination problem when conducting monetary policy: negative spillovers ensure uncoordinated policy generates too high inflation. Ex ante, policy-makers can undertake politically costly economic reform. This has a positive spillover because it improves the outcome of the monetary policy game. Ex post, contracting over policy may be possible, however, it is supposed that ex-ante contracting over reform and monetary policy, is not. This paper analyses when monetary union is a good substitute for this inability to commit. |
| 主题 | International Macroeconomics |
| 关键词 | Economic integration Montetary union Policy coordination |
| URL | https://cepr.org/publications/dp1545 |
| 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/530689 |
| 推荐引用方式 GB/T 7714 | Donald Hay,Jennifer Corbett,Eleni Louri-Dendrinou. DP1545 Inventory Behaviour: A Comparative Study of UK and Japanese Firms. 1997. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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