Macroeconomic Policies in the World Economy [Hardcover]

The integration of goods and financial markets has progressed on a global scale in recent years. Thus, the cyclical patterns in the world economy may have changed too. Against this background, experts in international economics analyze the synchronization of business cycles and their volatility in this book. Is there an European business cycle? What is the role of multinational corporations and monetary policy in transmitting business cycles? Further, they discuss the need and feasibility of internationally coordinating monetary and exchange rate policies and the quantitative effects of tax competition.

Cyclical Interdependence in the World Economy: Have National Business Cycles Become More Synchronized?.- Is There a European Business Cycle?.- Volatility and Comovement in a Globalized World Economy: An Empirical Exploration.- The Role of Multinational Corporations in International Business Cycle Transmission: Skew Lines or Arbitrage Opportunities?.- How Does International Economic Integration Influence Social Inequalities in Emerging Market Economies?.- Asset Price Booms and Monetary Policy.- A Need for International Coordination of Macro Policies?: Macroeconomic Policy Coordination in Europe - An Agnostic View.- A Critical Review of Coordination Efforts in the Past.- Winners and Losers of Tax Competition in the European Union. International experts highlight the cyclical interdependence in the world economy and discuss the need for an international coordination of macroeconomic policies