Chari, V. V.; Dovis, Alessandro; Kehoe, Patrick J.(2017-09)
We offer a theoretically based narrative that attempts to account both for the formation of the European Monetary Union and the callenges it has faced. Lack of commitment to policy plays a central role in this narrative.
Chari, V. V.; Nicolini, Juan Pablo; Teles, Pedro(2018-02)
We study cooperative optimal Ramsey equilibria in the open economy, addressing classic policy
questions: Should restrictions be placed to free trade and capital mobility? Should capital income
be taxed? Should goods be ...
Chari, V. V.; Dovis, Alessandro; Kehoe, Patrick J.(2016-02)
The traditional Mundellian criterion, which implicitly assumes commitment to monetary policy, is that countries with similar shocks should form unions. Without such commitment a new criterion emerges: countries with ...
