RT Report
T1 Fixed exchange rates and non-cooperative monetary policies
A1 Sebastián Gascón, Miguel
AB This paper presents a model which in a world with fixed exchange rates and absence of capital controls non-cooperative game yield multiple Nash equilibria with nonoptimal allocations, when we introduce regimes as strategies for the players. In general there is a unique Perfect Equilibrium for the game with both strategies. The sub-optimality of the non-cooperative solution provides scope for international coordination, in the form of joint choice of non-inflationary polices that dominate the Nash equilibria allocations.
PB Facultad de Ciencias Económicas y Empresariales. Decanato
SN 2255-5471
YR 1987
FD 1987
LK https://hdl.handle.net/20.500.14352/65976
UL https://hdl.handle.net/20.500.14352/65976
LA eng
DS Docta Complutense
RD 29 abr 2025