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Staying Together or Breaking Apart: Policy-Makers' Endogenous Coalition Formation in the European Economic and Monetary Union


Joseph Plasmans


University of Antwerp - Department of Economics; CESifo (Center for Economic Studies and Ifo Institute for Economic Research); Tilburg University

Giovanni Di Bartolomeo


University of Teramo

Jacob C. Engwerda


Tilburg University - Department of Economics

Bas Van Aarle


KU Leuven - LICOS - Centrum voor Transitie-economie; CESifo (Center for Economic Studies and Ifo Institute for Economic Research); Radboud University Nijmegen - Department of Economics
July 2002

CESifo Working Paper Series No. 748; FEEM Working Paper No. 60.2002

Abstract:     
In this paper, we analyze coordination of macroeconomic stabilization policies within the EMU by focusing, in a dynamic set-up, on asymmetries, externalities, and the existence of a multi-country context. We study how coalitions among fiscal and monetary authorities are formed and what their effects on the stabilization of output and price are. In particular, our attention is directed to studying the consequences on these issues of different institutional contexts in which policy-makers may act. Among other results, we found that, in the presence of externalities, the occurrence of asymmetries is a necessary but not a sufficient condition for cooperation.

Number of Pages in PDF File: 37

Keywords: Macroeconomic Stabilization, EMU, Coalition Formation

JEL Classification: C70, E17, E58, E61, E63

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Date posted: October 11, 2002  

Suggested Citation

Plasmans, Joseph E. J., Di Bartolomeo, Giovanni, Engwerda, Jacob C. and Van Aarle, Bas, Staying Together or Breaking Apart: Policy-Makers' Endogenous Coalition Formation in the European Economic and Monetary Union (July 2002). CESifo Working Paper Series No. 748; FEEM Working Paper No. 60.2002. Available at SSRN: http://ssrn.com/abstract=318689 or http://dx.doi.org/10.2139/ssrn.318689

Contact Information

Joseph E. J. Plasmans (Contact Author)
University of Antwerp - Department of Economics ( email )
Prinsstraat 13
Antwerp, B-2000
Belgium
CESifo (Center for Economic Studies and Ifo Institute for Economic Research)
Poschinger Str. 5
Munich, DE-81679
Germany
Tilburg University
Postbus 90153
Tilburg, DC 5000 LE
Netherlands
Giovanni Di Bartolomeo
University of Teramo
Campus Coste S. Agostino
Teramo, TE 64100
Italy
+39 (0)861.266051 (Phone)
HOME PAGE: http://dibartolomeo.comunite.it/
Jacob C. Engwerda
Tilburg University - Department of Economics ( email )
P.O. Box 90153
Tilburg, 5000 LE
Netherlands
+31 13 466 2174 (Phone)
+31 13 466 3280 (Fax)
Bas Van Aarle
KU Leuven - LICOS - Centrum voor Transitie-economie ( email )
Deberiotstraat, 34
Leuven, B-3000
Belgium
+32 16 326591 (Phone)
+32 16 326599 (Fax)
CESifo (Center for Economic Studies and Ifo Institute for Economic Research)
Poschinger Str. 5
Munich, DE-81679
Germany
HOME PAGE: http://www.cesifo.de
Radboud University Nijmegen - Department of Economics ( email )
P.O.Box 9108
6500 HK Nijmegen
Netherlands
+31 24 3616172 (Phone)
+31 24 3611846 (Fax)
Feedback to SSRN (Beta)


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