Economic and Monetary Policy Cooperation: The EC and Japan

Any meaningful discussion about "managing macroeconomic interdependence" must take into account the national policy objectives, institutional arrangements, and socioeconomic challenges. This collection of papers presents seven contributions of European and Japanese economists relevant to that issue.
Peter Bofinger analyzes potential conflicts between policy coordination on the European and international levels. The following studies deal with the scope and limits of multilateral coordination from the points of view of the United Kingdom (Richard Brown) and Germany (Beate Reszat). Two other papers address more specifically the processes of exchange rate decision-making and coordination in Germany (Jochen Michaelis) and the EMS (Peter Bofinger). The final two articles take up the Japanese dimension, focussing at important current and long-term issues of fiscal (Yukio Noguchi) and monetary (Kazumasa Iwata) policy.
The volume is of interest to economists, political scientists, and all active observers of European, Japanese, and international economic policy.