O desvio deflacionista na ausência de cooperação internacional em contexto de incerteza

This note is an extension of Macedo’s two-country static equilibrium model (1985) on international coordination of economic policies under flexible exchange rates. We test the influence of uncertainty on the (in) deflationary bias that characterizes the non-cooperative Nash-Cournot equilibrium. The gap between this solution and the cooperative one is shortened. Both countries cooperate tacitly against «nature» minimizing the involved risk.