The Review of Economics and Statistics Vol. 73 No. 3 1991
Exchange Rates, Policy Convergence, and the European Monetary System
Abstract
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
- Issue
- 3
- Pages
- 553
- Sources
- crossref openalex