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Preface
5
Executive Summary
7
Contents in Brief
9
Contents
11
Introduction
17
Part One The Monetary Union as a WholeAbsence of a Deficit Target
29
Chapter 1 Monetary Policy A
30
Chapter 2 Monetary Policy B
35
Chapter 3 Fiscal Policy A
42
Chapter 4 Fiscal Policy B
47
Chapter 5 Interaction between Central Bank and Government
52
Chapter 6 Cooperation between Central Bank and Government
58
Chapter 7 Interaction between Central Bank and Government: A Special Case
65
Part Two The Monetary Union as a Whole Presence of a Deficit Target
71
Chapter 1 Fiscal Policy A
72
Chapter 2 Fiscal Policy B
78
Chapter 3 Interaction between Central Bank and Government A
83
Chapter 4 Interaction between Central Bank and Government B
90
Chapter 5 Interaction between Central Bank and Government C
96
Chapter 6 Cooperation between Central Bank and Government
103
Part Three The Monetary Union of Two Countries Absence of a Deficit Target
108
Chapter 1 Monetary Policy in Europe A
109
Chapter 2 Monetary Policy in Europe B
118
Chapter 3 Fiscal Policy in Germany A
126
Chapter 4 Fiscal Policy in Germany B
131
Chapter 5 Interaction between European Central Bank, German Government, and French Government
136
Chapter 6 Cooperation between European Central Bank, German Government, and French Government
144
Part Four The Monetary Union of Two Countries Presence of a Deficit Target
153
Chapter 1 Fiscal Policy in Germany A
154
Chapter 2 Fiscal Policy in Germany B
160
Chapter 3 Interaction between European Central Bank, German Government, and French Government A
165
Chapter 4 Interaction between European Central Bank, German Government, and French Government B
180
Chapter 5 Interaction between European Central Bank, German Government, and French Government C
192
Chapter 6 Cooperation between European Central Bank, German Government, and French Government
204
Synopsis
214
Conclusion
216
Result
238
Symbols
243
The Current Research Project
244
References
248
Index
260
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