Interdipendenza Economica Internazionale e Coordinamento delle Politiche Economiche: una rassegna

This paper provides a survey of the literature which has been given rise by the conflicts and the instability characterising the world economy. There are two main directions of research. The first one attempts to evaluate the benefits and the sustainability of a full economic policy coordination amongst countries. Models in this tradition are generally developed within a game theoretic optimizing approach which leads to the definition of optimal and complex rules of economic policies. Alternatively, another part of the literature suggests, by stressing the costs and the difficulties implied by coordination, the definition of agreements on a restricted range of macroeconomic variables. In general, the use of simple rules as opposed to complex rules of economic policy is here recommended.