01564nam a2200157Ia 450000500170000000800390001702000180005608200150007410000210008924500950011026000390020530000140024452011060025865000250136470000170138920260302161942.0260302s9999    xx          000 0 und d  a9780521441964  a339.5bCUR  aCurrie, David A. 0aRules, Reputation and Macroeconomic Policy Coordination / cCurrie, David A.; Levine, Paul  bCambridge University Press, c1993  a441 pages  aIn this book David Currie and Paul Levine address a broad range of issues concerning the design and conduct of macroeconomic policy in open economies. Adopting neo-Keynesian models for which monetary and fiscal policy have short-term real effects, they analyse active stabilisation policies in both a single- and multi-country context. Questions addressed include: the merits of simple policy rules, policy design in the face of uncertainty and international policy coordination. A central feature of the book is the treatment of credibility and the effect of a policy-maker's reputation for sticking to announced policies. These considerations are integrated with coordination issues to produce a unique synthesis. The volume develops optimal control methods and dynamic game theory to handle relationships between governments and a conscious rational private sector and produces a unified, coherent approach to the subject. This book will be of interest to students and teachers of open economy macroeconomics and to professional economists interested in using macroeconomic models to design policy.  aBusiness & Economics  aLevine, Paul