Lambertini, Luca
(1998)
The International Coordination of Monetary Policy: A Game-Theoretic Reformulation.
DOI 10.6092/unibo/amsacta/780.
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Official URL: http://www.dse.unibo.it/wp/250.pdf
Abstract
This paper reformulates the issue of the international coordination of monetary policy in the framework of an extended game with observable delay, where govern-ments are required to set the timing of their respective actions before proceeding to the actual choice of their monetary policies. This allows to shrink significantly the set of equilibria.
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