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The paper examines international issues that arise in the design and evaluation of macroeconomic policy rules. It begins with a theoretical investigation of the effects of fiscal and monetary policy...
The Current Account and Macroeconomic Policy: An Econometric Analysis.
Japanese Macroeconomic Policy and the Current Account Under Alternative International Monetary Regimes.
Macroeconomic Policy and Unemployment in the 1990s.
This draft was prepared for the Robert A. Mundell Festschrift Conference, organized by Guillermo Calvo, Rudi Dornbusch, and Maury Obstfeld and held at the World Bank, Washington, D.C., October 24, 1...
This article reviews the role of monetary and fiscal policy in the financial crisis and draws lessons for future macroeconomic policy. It shows that policy deviated from what had worked well in the ...
Distributional consequences typically receive limited attention in economic models that analyze the effects of monetary and financial sector policies. These consequences deserve more attention since f...
We consider a dynamic game model of a two-country monetary union. Governments (fiscal policies) pursue national goals while the common central bank’s monetary policy aims at union-wide objectives. For...
We develop a dynamic game model of a two-country monetary union to study strategic interactions between macroeconomic policy makers, namely the central bank and governments. In this union, the governm...
Bangkok (UN/ESCAP Information Services) – UN Under-Secretary-General Noeleen Heyzer, the Executive Secretary of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), toda...

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