Staff Report 103

International Policy Cooperation May Be Undesirable

Patrick J. Kehoe | Stanford University, University College London, Federal Reserve Bank of Minneapolis

Published February 1, 1986

This paper presents a simple counterexample to the belief that international policy cooperation is desirable. It also explains circumstances under which such a counterexample is possible.

Versions of this report were published under the titles “International Policy Cooperation May Be Undesirable” and “Policy Cooperation Among Benevolent Governments May Be Undesirable.”

Published In: Review of Economic Studies (Vol 56, 1989, pp. 289-296)

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