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National Macroeconomic Policy Preferences and International Coordination Issues*

Published online by Cambridge University Press:  07 April 2017

Thomas D. Willett
Thomas D. Willett
Affiliation:
Economics, Claremont Graduate School and Claremont McKenna College
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Abstract

This paper stresses the importance of taking domestic economic structures and political pressures into account when considering issues of international macroeconomic policy coordination. The existence of domestic biases can cause policy coordination to increase rather than reduce macroeconomic instability. The paper offers a survey of the literature on national macroeconomic policy preferences and inflation unemployment tradeoffs. While this research is still in its infancy, it is clear that there are important differences across countries which must be taken into account in designing coordination strategies.

Type
Articles
Information
Journal of Public Policy , Volume 8 , Issue 3-4 , July 1988 , pp. 235 - 263
Copyright
Copyright © Cambridge University Press 1988

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