Out in the Sunshine?: Outsiders, Insiders, and the United States in 1998

CEPR Discussion Paper Series No. 1547

Posted: 20 Mar 1997

See all articles by Fabio Pietro Ghironi

Fabio Pietro Ghironi

University of Washington

Francesco Giavazzi

National Bureau of Economic Research (NBER); University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER); Centre for Economic Policy Research (CEPR)

Date Written: January 1997

Abstract

The paper analyzes monetary and fiscal policy interactions in a three-country world, interpreted to represent two EU economies and the rest of the world. The analysis extends well-known results in the literature on international policy spillovers by investigating the effects of different sizes of the two EU economies. A set of general results is derived, which allows a reinterpretation of earlier findings in the literature on policy-making in interdependent economies.

JEL Classification: F31, F33, F41, F42

Suggested Citation

Ghironi, Fabio Pietro and Giavazzi, Francesco and Giavazzi, Francesco, Out in the Sunshine?: Outsiders, Insiders, and the United States in 1998 (January 1997). CEPR Discussion Paper Series No. 1547, Available at SSRN: https://ssrn.com/abstract=4754

Fabio Pietro Ghironi (Contact Author)

University of Washington ( email )

Department of Economics
Box 353330
Seattle, WA 98195-3330
United States
206-543-5795 (Phone)

HOME PAGE: http://faculty.washington.edu/ghiro

Francesco Giavazzi

University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER) ( email )

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Milan, 20136
Italy
+39 02 5836 3304 (Phone)
+39 02 5836 3302 (Fax)

National Bureau of Economic Research (NBER)

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Centre for Economic Policy Research (CEPR)

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United Kingdom

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