G2TT
来源类型Discussion paper
规范类型论文
来源IDDP444
DP444 Exchange Rates, Policy Convergence and the European Monetary System
Mark Taylor; Ronald MacDonald
发表日期1990-08-01
出版年1990
语种英语
摘要In this paper we use a recently developed multivariate cointegration technique to analyse the degree of policy convergence of EMS member relative to that of some non-EMS countries. Interestingly, we find convergence for the nominal and real exchange rates and money supplies of the EMS members but not for the non-EMS countries. We also provide some evidence to support the `German leadership hypothesis' in the context of intra-EMS monetary policy convergence, which accords with anecdotal evidence on the modus operandi of the EMS.
主题International Macroeconomics
关键词European monetary system Exchange rates Policy convergence
URLhttps://cepr.org/publications/dp444
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/529600
推荐引用方式
GB/T 7714
Mark Taylor,Ronald MacDonald. DP444 Exchange Rates, Policy Convergence and the European Monetary System. 1990.
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