| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP178 |
| DP178 Monetary Discipline, Germany, and the European Monetary System | |
| Jacques MELITZ | |
| 发表日期 | 1987-04-01 |
| 出版年 | 1987 |
| 语种 | 英语 |
| 摘要 | This paper explores the hypothesis that the non-German members of the European Monetary System (EMS) draw benefits from the system because of the monetary discipline that it imposes upon them. The hypothesis explains the dominant position of Germany in the EMS and is consistent with the evidence that membership has induced several countries to disinflate more than they would have done otherwise. Analysis shows, however, that the required conditions for the hypothesis to work are very stringent. Even if the conditions are met, the non-German members could obtain the advantages of monetary discipline in other ways. |
| 主题 | International Macroeconomics |
| 关键词 | European monetary system Germany inflation Monetary discipline monetary policy |
| URL | https://cepr.org/publications/dp178 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529333 |
| 推荐引用方式 GB/T 7714 | Jacques MELITZ. DP178 Monetary Discipline, Germany, and the European Monetary System. 1987. |
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