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Journal of Economic Integration 2004 March;19(1) :46-52.
Strategic Interactions on Structural Reforms Between Integrated Economies: What Lessons for the EU?

Etienne Lehmann Emmanuelle Taugourdeau 

University of Paris 2 - Panthéon-Assas
University of Paris 1 - Panthéon-Sorbonne
Copyright ©2004 Journal of Economic Integration
We show that the domestic output increases with a foreign country's structural reform and decreases with foreign country's fiscal policy. Hence, when governments act non-cooperatively, they implement too low structural reforms and too much fiscal policies.
Keywords: Coordination failures | Aggregate supply | Aggregate demand | Structural reforms
1. Bean, C. (1998a) Monetary Policy under EMU, Oxford Review of Economic Policy, 14, 41-53.
2. Bean, C. (1998b) The Interaction of Aggregate Demand Policies and Labor Market Reform, Swedish Economic Policy Review, 5, 353-382.
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