We consider monetary-fiscal interactions when the monetary authority is more conservative
than the fiscal. With both policies discretionary,(1) Nash equilibrium yields lower output and …

We consider monetary–fiscal policy interactions in a monetary union. If monetary and fiscal
authorities have different ideal output and inflation targets, the Nash equilibrium output or …

In this paper, the literature on the interaction between monetary and fiscal policies in a
monetary union is surveyed. By adopting the concept of symbiosis as a starting point, the …

We consider the interaction between the monetary policy in a monetary union, and the
separate fiscal policies of the member countries. We use a Barro–Gordon-type model …

This paper outlines some issues regarding the interaction of independent fiscal authorities
and one central bank in the European monetary union. It points out the possibilities for …

We review the theoretical and empirical literature on the benefits and costs of imposing
restrictions on fiscal policy. We emphasize that the arguments in favour of restricting …

The creation of the European Monetary Union (EMU) has given a new impulse to research
on the interactions between monetary and fiscal policies. The key considerations in this …

The objective of this study is to investigate the behaviour of monetary and fiscal authorities in
the Euro area. Our main contribution is joint modeling of behaviour of the two authorities …

This paper examines the interaction of monetary and fiscal policies using an estimated New-
Keynesian dynamic general equilibrium model for the US. In contrast to earlier work using …

This paper constructs various models of the EMU and ECB when member countries have
different objectives. Voting in pursuit of national interest can yield moderate and stable …