What are the main problems in international policy coordination? How are they solved?
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Expert's answer
2017-04-20T12:05:05-0400
1)Neutral Assessor Properties of a “Neutral Assessor” : • Bridges differences across countries • Assesses spillovers and the potential for policy trades • Uses information from bilateral surveillance to assess policy tradeoffs • Assessor role to date: still much to do on spillovers and on leveraging country surveillance 2)Rules of the Road • Limit damage from harmful outward spillovers when coordination infeasible • Rules of the road probably costly for countries generating negative spillovers Rules of the road probably costly for countries generating negative • Rules should be grounded in fundamentals of IMF surveillance and supported by appropriate analytical toolkit Source: https://www.ecb.europa.eu/events/pdf/conferences/140429/Ostry_KeynotePresentation.pdf?6ca40266612935eaa6cc073c564f2c62
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