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About this product
- DescriptionMonetary Policy in Interdependent Ecomies provides the first comprehensive overview of the implications of using game theory to analyze interactions among national monetary policymakers. It synthesizes the pessimistic view of sovereign policymaking that results from the analysis of one-shot games with the optimistic view derived from the analysis of quid pro quo strategies in repeated games.Good outcomes, the authors conclude, require coordination among ncooperative policymakers, and that sometimes policymakers, must be forced to cooperate. They suggest two roles for supranational institutions such as the International Monetary Fund: the IMF can provide a forum where ncooperative policymakers, can work to achieve good outcomes, and it can police agreements among cooperative policymakersCanzoneri and Henderson take clear stands on controversial issues and make recent advances in game theory accessible by using a single unified framework to explain a wide range of concepts. They begin by analyzing one-shot interactions between two policymakers, In subsequent chapters they extend their analysis to allow for more policymakers, and coalitions, for repeated interactions among policymakers, and for the possibility of time inconsistency.Matthew B. Canzoneri is Professor of Ecomics at Georgetown University. Dale W. Henderson is Assistant Director, Division of International Finance, Board of Goverrs of the Federal Reserve System.
- Author BiographyMatthew B. Canzoneri is Professor of Economics at Georgetown University.
- Author(s)Dale Henderson,Matthew B. Canzoneri
- PublisherMIT Press Ltd
- Date of Publication01/01/2003
- SubjectEconomics: Professional & General
- Place of PublicationCambridge, Mass.
- Country of PublicationUnited States
- ImprintMIT Press
- Content Noteblack & white illustrations
- Weight317 g
- Width155 mm
- Height231 mm
- Spine17 mm
- Format DetailsTrade paperback (US)
- Interest AgeFrom 18
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