Exchange Rates, Policy Convergence, and the European Monetary System
The Review of Economics and Statistics
1991
We analyze the degree of policy convergence of EMS member countries 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.
- DOI
- 10.2307/2109585
- Volume
- 73 (3)
- Pages
- 553
- Export
- BibTeX
- Sources
- crossref openalex