International coordination of national stabilization policies

the long version

As cross-border transactions and economic integration among nations have increased, formerly neglected differences among the domestic economic policies of nations have become progressively exposed to international scrutiny. National governments trying to pursue autonomous policies have found their decisions more difficult and the consequences of the decisions more uncertain. These trends have in turn provoked debate about whether governments should cooperate more fully when making their policy decisions. In this book, part of the Integrating National Economies series, Ralph C. Bryant considers how much national governments might benefit from coordination of their macroeconomic stabilization policies, the circumstances in which they might cooperate, and how ambitious that cooperation should be.