Simple rules, robustness and alternative assignments for G3 policy cooperation
Article Abstract:
A macroeconomic policy for G3 economies centering on the issues of uncertainty and economic performance and the choice of a policy regime was studied. Uncertainty can be defined as exogenous and endogenous. Endogenous uncertainty can be studied through a Global Econometric Model. In such a model, economic policy makers can adjust fiscal and monetary instruments through the analysis of feedback. Exogenous uncertainty emanates from stocks to prices in oil and commodities.
Publication Name: World Economy
Subject: Economics
ISSN: 0378-5920
Year: 1995
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Target zones and alternative proposals for G3 policy coordination: an empirical evaluation using GEM
Article Abstract:
The Extended Target Zone (ETZ) proposal for economic policy is compared to other policies that do not require explicit exchange rate targeting. An analysis of policies using the Global Economic Model show that when exchange rate volatility is significant, the ETZ scheme performs better than the alternative policies. However, when exchange rate volatility is unimportant, the ETZ scheme does not outperform the alternative policies.
Publication Name: Journal of Macroeconomics
Subject: Economics
ISSN: 0164-0704
Year: 1996
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A cointegration analysis of the U.S. money supply process
Article Abstract:
Differing Federal Reserve operating processes are examined for their impact on United States M1 money supply procedures between 1971 and 1990. The borrowed reserves operating procedure period manifested cointegration among the monetary base, the money supply and the differential for the market-deposit interest rate during 1983:01 to 1990:06.
Publication Name: Journal of Macroeconomics
Subject: Economics
ISSN: 0164-0704
Year: 1997
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