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Fiscal Consolidation: An Exercise in the Methodology of Coordination
( Guglielmo Maria Caporale ),( Michael Chui ),( Stephen G. Hall ),( Brian Henry ) 세종대학교 경제통합연구소 2005 Journal of Economic Integration Vol.20 No.1
This paper outlines a new methodology for the study of international policy coordination, which builds on two separate approaches previously used in the literature: optimal simple rules, and game-theoretic analysis. The new approach is illustrated by using the example of a changed target for the debt-income ratio in the G-3. The results suggest that there are few policy externalities when only fiscal policy is coordinated, whilst coordination of both fiscal and monetary policy results in substantial externalities and welfare improvements. Our findings reflect the fact that, unlike earlier studies, we focus on the strategic interaction between (domestic) policy makers, as well as the standard exchange rate and interest rate transmission mechanisms.
Learning from past experience: Yanukovych's implementation of authoritarianism after 2004
Stephen G.F. Hall 한양대학교 아태지역연구센터 2017 Journal of Eurasian Studies Vol.8 No.2
This paper argues that an important concept of authoritarian learning is missing. This is how leaders learn from domestic experience. Using Yanukovych's defeat in the Orange Revolution, the paper illustrates how he adapted to stop a new Colour Revolution. Through using Party of Regions resources, Yanukovych improved his image, developed Party of Region's electoral success, controlled institutions and the political system, coerced the opposition, built-up security forces and pro-regime groups and created a family. While the paper finds that Yanukovych adapted to the failure of the Orange Revolution these adjustments contributed to the Euromaidan and the learning from domestic experience resulted in ultimate failure.