BIROn - Birkbeck Institutional Research Online

    Monetary integration and economic reform

    Sibert, Anne (1999) Monetary integration and economic reform. The Economic Journal 109 (452), pp. 78-92. ISSN 0013-0133.

    Full text not available from this repository.

    Abstract

    Recent research in contract theory views ownership as a substitute for complete contracts. Here, this approach is applied to monetary integration. Countries face a coordination problem conducting monetary policy. Negative spillovers ensure uncoordinated policy generates too high inflation. Ex ante , policy makers can undertake politically costly economic reform. This has a positive spillover because it improves the outcome of the monetary policy game. Ex‐post contracting over policy may be possible, but it supposed that ex‐ante contracting over reform and monetary policy is not. This paper analyses when monetary union is a good substitute for this inability to commit.

    Metadata

    Item Type: Article
    School: School of Business, Economics & Informatics > Economics, Mathematics and Statistics
    Depositing User: Sarah Hall
    Date Deposited: 28 Jul 2020 07:30
    Last Modified: 28 Jul 2020 07:30
    URI: https://eprints.bbk.ac.uk/id/eprint/32709

    Statistics

    Downloads
    Activity Overview
    0Downloads
    21Hits

    Additional statistics are available via IRStats2.

    Archive Staff Only (login required)

    Edit/View Item Edit/View Item