MONETARY-POLICY COOPERATION MAY NOT BE COUNTERPRODUCTIVE

Authors
JENSEN H
Citation
H. Jensen, MONETARY-POLICY COOPERATION MAY NOT BE COUNTERPRODUCTIVE, The Scandinavian journal of economics, 99(1), 1997, pp. 73-80
Citations number
11
Categorie Soggetti
Economics
Journal title
The Scandinavian journal of economics → ACNP
ISSN journal
03470520
Volume
99
Issue
1
Year of publication
1997
Pages
73 - 80
Database
ISI
SICI code
0347-0520(1997)99:1<73:MCMNBC>2.0.ZU;2-F
Abstract
This paper qualifies Rogoff's famous (1985) result that international monetary policy cooperation is counterproductive. In a model similar t o his, it is shown that if wage-setters are non-atomistic and inflatio n averse - as policymakers are - cooperation leads to higher employmen t and possibly lower inflation.