Economic Cooperation in an Uncertain World

by Ghosh, Atish R.; Masson, Paul R.

• ISBN13: 9781557863065
• ISBN10: 1557863067
• Edition: 1st
• Format: Hardcover
• Copyright: 1994-06-06
• Publisher: Wiley-Blackwell

Summary

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.

Author Biography

Atish R. Ghosh is Assistant Professor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs and the Department of Economics, Princeton University.

Table of Contents

Introduction

A Theoretical Framework for Modelling the Open Economy

The Theory of Policy Coordination Under Uncertainty

An Example: The Stock market Crash of October 1987

Alternative Empirical Models of the Open Economy

Model Uncertainty and the Gains from Coordination: An Empirical Analysis

Cooperation versus Coordination

On the Sustainability of Cooperative Agreements

Issues in Bargaining

Conclusions

Appendix - Cooperation and Coordination in Historical Perspective

Bibliography

Index

Table of Contents provided by Publisher. All Rights Reserved.