NBER International Seminar on Macroeconomics: v. 7 (National Bureau of Economic Research International Seminar on Macroeconomics)
By: Francesco Giavazzi (editor), Richard H. Clarida (editor)Paperback
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The NBER International Seminar on Macroeconomics brings together leadingAmerican and European economists to discuss a broad range of current issues inglobal macroeconomics. An international companion to the more American-focused NBERMacroeconomics Annual, this particular volume offers cutting-edge research onmonetary and fiscal policy responses to macroeconomic fluctuations, with specialemphasis on tailoring a single monetary policy for the diverse economies that makeup the European Monetary Union. The individual papers examine such topics as whetherrule-based monetary policy should target price levels or inflation rates; how muchcyclical correlation across countries can be attributed to transmission betweenmultinational companies and their international affiliates; the different effects ofmonetary policy in high-debt and low-debt countries; and the prospects for the ten2004 entrants to the European Union, based on the experiences of EU entrants of the1980s.
Richard H. Clarida is the C. Lowell Harriss Professor of Economics and professor of international affairs at Columbia University and a research associate of the NBER. Francesco Giavazzi is professor of economics at Bocconi University, a regular visiting professor at the Massachusetts Institute of Technology, and a research associate of the NBER.
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