De facto Monetary Union through forward interventions
| Autor: | Robert Vehrkamp |
|---|---|
| Rok vydání: | 1995 |
| Předmět: |
Economics
Econometrics and Finance (miscellaneous) European Monetary System Monetary economics International economics Intervention (law) Exchange rate Credibility European integration ddc:330 Economics Business Management and Accounting (miscellaneous) Speculation Foreign exchange market Social policy |
| Zdroj: | Intereconomics. 30:111-116 |
| ISSN: | 1613-964X 0020-5346 |
| DOI: | 10.1007/bf02927265 |
| Popis: | The crises suffered in 1992/93 by the old EMS with its narrow exchange rate bands were largely due to the fact that the central banks' unlimited spot intervention obligations held little credibility for speculators. How can a credible exchange rate guarantee be achieved by improving the intervention mechanism? |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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