| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP389 |
| DP389 The EMS, Spain and Macroeconomic Policy | |
| José Viñals | |
| 发表日期 | 1990-03-01 |
| 出版年 | 1990 |
| 语种 | 英语 |
| 摘要 | This paper focuses on Spanish participation in the EMS and tries to answer the following questions: What net gains can Spain be expected to make from EMS membership? Were all the required preconditions satisfied for a smooth entrance into the System? What has been the experience of the peseta so far inside the EMS? And finally, what are the main economic policy changes due to take place as a result of Spanish membership? The analysis in the paper suggests that EMS membership may be very beneficial for the Spanish economy in providing the monetary discipline needed further to reduce inflation. It also indicates that the entry of the peseta in the System under conditions of high international capital mobility has highlighted the problems of inadequately coordinated domestic monetary and fiscal policies and so may also increase fiscal discipline. |
| 主题 | International Macroeconomics |
| 关键词 | Credibility European monetary Fixed but adjustable exchange rate Monetary discipline |
| URL | https://cepr.org/publications/dp389 |
| 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/529544 |
| 推荐引用方式 GB/T 7714 | José Viñals. DP389 The EMS, Spain and Macroeconomic Policy. 1990. |
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