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In this book David Currie and Paul Levine address a broad range of issues concerning the design and conduct of macroeconomic policy in open economies. Adopting neo-Keynesian models for which monetary and fiscal policy have short-term real effects, they analyse active stabilisation policies in both a single- and multi-country context. Questions addressed include: the merits of simple policy rules, policy design in the face of uncertainty and international policy coordination. A central feature of the book is the treatment of credibility and the effect of a policy-maker's reputation for sticking to announced policies. These considerations are integrated with coordination issues to produce a unique synthesis. The volume develops optimal control methods and dynamic game theory to handle relationships between governments and a conscious rational private sector and produces a unified, coherent approach to the subject. This book will be of interest to students and teachers of open economy macroeconomics and to professional economists interested in using macroeconomic models to design policy.

Macroeconomics --- International finance --- Economic policy --- International cooperation --- 338.22 --- -Macroeconomics --- AA / International- internationaal --- 331.31 --- 334.10 --- 339.5 --- Economics --- Economic nationalism --- Economic planning --- National planning --- State planning --- Planning --- National security --- Social policy --- Economische organisatieleer. Economisch beleid. Economische politiek --- Economisch beleid. --- Algemene economie : algemeenheden. --- Economic policy. --- Macroeconomics. --- International cooperation. --- 338.22 Economische organisatieleer. Economisch beleid. Economische politiek --- Economisch beleid --- Algemene economie : algemeenheden --- Business, Economy and Management --- Economic policy - International cooperation

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Using accessible archival sources, a team of historians reveal how much the USA, Britain, Switzerland and Sweden knew about the Nazi attempt to murder all the Jews of Europe during World War II.

Holocaust, Jewish (1939-1945) --- World War, 1939-1945 --- Holocauste, 1939-1945 --- 2ème guerre mondiale --- 2eme Guerre mondiale --- Historiography. --- Moral and ethical aspects. --- Social aspects. --- Collaborationists --- Jews --- Rescue. --- Historiographie --- Aspect moral --- Aspect social --- Collaborateurs --- Juifs --- Sauvetage --- Rescue of Jews, 1939-1945 --- Quislings --- Rescue, 1939-1945 --- Righteous Gentiles in the Holocaust --- Fifth column --- Catastrophe, Jewish (1939-1945) --- Destruction of the Jews (1939-1945) --- Extermination, Jewish (1939-1945) --- Holocaust, Nazi --- Ḥurban (1939-1945) --- Ḥurbn (1939-1945) --- Jewish Catastrophe (1939-1945) --- Jewish Holocaust (1939-1945) --- Nazi Holocaust --- Nazi persecution of Jews --- Shoʾah (1939-1945) --- Genocide --- Kindertransports (Rescue operations) --- Collaborationists. --- Occupied territories --- Nazi persecution --- Persecutions --- Atrocities --- Jewish resistance --- Holocaust, Nazi (Jewish Holocaust) --- Nazi Holocaust (Jewish Holocaust) --- Nazi persecution (1939-1945)

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We develop a optimal rules-based interpretation of the 'three pillars macroeconomic policy framework': a combination of a freely floating exchange rate, an explicit target for inflation, and a mechanism than ensures a stable government debt-GDP ratio around a specified long run. We show how such monetary-fiscal rules need to be adjusted to accommodate specific features of emerging market economies. The model takes the form of two-blocs, a DSGE emerging small open economy interacting with the rest of the world and features, in particular, financial frictions It is calibrated using Chile and US data. Alongside the optimal Ramsey policy benchmark, we model the three pillars as simple monetary and fiscal rules including and both domestic and CPI inflation targeting interest rate rules alongside a 'Structural Surplus Fiscal Rule' as followed recently in Chile. A comparison with a fixed exchange rate regime is made. We find that domestic inflation targeting is superior to partially or implicitly (through a CPI inflation target) or fully attempting to stabilizing the exchange rate. Financial frictions require fiscal policy to play a bigger role and lead to an increase in the costs associated with simple rules as opposed to the fully optimal policy.

Finance --- Business & Economics --- Money --- Monetary policy --- Fiscal policy --- Banks and Banking --- Macroeconomics --- Money and Monetary Policy --- Public Finance --- Fiscal Policy --- Macroeconomics: Consumption --- Saving --- Wealth --- Interest Rates: Determination, Term Structure, and Effects --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Monetary economics --- Consumption --- Fiscal rules --- Zero lower bound --- Currencies --- Economics --- Interest rates --- Chile

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