Policy games: Coordination and Independece in Monetary and Fiscal Policies

@inproceedings{Nordhaus1994PolicyGC,
  title={Policy games: Coordination and Independece in Monetary and Fiscal Policies},
  author={W. Nordhaus},
  year={1994}
}
No ONE WOULD dream of designing the human anatomy by disconnecting the controls of the left and right sides of the body. Yet, for the most important economic controls in a modern economy, monetary and fiscal policies, economists today generally endorse the separation of powers as a way of optimizing noninflationary growth. What are the costs and benefits of coordination and independence in macroeconomic policy? What are the consequences of the independence in policymaking that has become firmly… Expand
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