International Collusion or Competition for Macroeconomic Policy Coordination? A Restatement *

摘要: Ever since the breakdown of Bretton Woods System, there has been a chorus economists calling for internationally negotiated coordination macroeconomic policies. Most them work international organisations or have developed special interest in discretionary macro-policy optimal-control theory. At same time, very little centralised actually taken place. Exchange rate surveillance by International Monetary Fund does not seem to played major role. The economic summit meetings are used coordinate any longer. Even first Bonn Summit (1978), apparent showpiece coordination, yielded policy concessions from national governments, but rather enabled their leaders pursue domestic objectives against strong internal opposition.