How Long to Read Currency Wars or Efficient Spillovers? A General Theory of International Policy Cooperation

How Long Does it Take to Read Currency Wars or Efficient Spillovers? A General Theory of International Policy Cooperation?

It takes the average reader 1 hour and 7 minutes to read Currency Wars or Efficient Spillovers? A General Theory of International Policy Cooperation by Mr.Anton Korinek

Assuming a reading speed of 250 words per minute. Learn more

Description

In an interconnected world, national economic policies regularly lead to large international spillover effects, which frequently trigger calls for international policy cooperation. However, the premise of successful cooperation is that there is a Pareto inefficiency, i.e. if there is scope to make some nations better off without hurting others. This paper presents a first welfare theorem for open economies that defines an efficient benchmark and spells out the conditions that need to be violated to generate inefficiency and scope for cooperation. These are: (i) policymakers act competitively in the international market, (ii) policymakers have sufficient external policy instruments and (iii) international markets are free of imperfections. Our theorem holds even if each economy suffers from a wide range of domestic market imperfections and targeting problems. We provide examples of current account intervention, monetary policy, fiscal policy, macroprudential policy/capital controls, and exchange rate management and show that the resulting spillovers are Pareto efficient, as long as the three conditions are satisfied. Furthermore, we develop general guidelines for how policy cooperation can improve welfare when the conditions are violated.

How long is Currency Wars or Efficient Spillovers? A General Theory of International Policy Cooperation?

Currency Wars or Efficient Spillovers? A General Theory of International Policy Cooperation by Mr.Anton Korinek is 66 pages long, and a total of 16,896 words.

This makes it 22% the length of the average book. It also has 21% more words than the average book.

How Long Does it Take to Read Currency Wars or Efficient Spillovers? A General Theory of International Policy Cooperation Aloud?

The average oral reading speed is 183 words per minute. This means it takes 1 hour and 32 minutes to read Currency Wars or Efficient Spillovers? A General Theory of International Policy Cooperation aloud.

What Reading Level is Currency Wars or Efficient Spillovers? A General Theory of International Policy Cooperation?

Currency Wars or Efficient Spillovers? A General Theory of International Policy Cooperation is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Currency Wars or Efficient Spillovers? A General Theory of International Policy Cooperation?

Currency Wars or Efficient Spillovers? A General Theory of International Policy Cooperation by Mr.Anton Korinek is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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