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| Author: | Maria Caporale, G. Pittis, N. |
| Title: | Inflation convergence in the EMS: some additional evidence. A reply |
| Journal: | Weltwirtschaftliches Archiv
1995 : VOL. 131:3, p. 587-593 |
| Index terms: | INFLATION EUROPEAN MONETARY SYSTEM MODELS |
| Language: | eng |
| Abstract: | In a critical note published in this issue of Weltwirtschaftliches Archiv Thom (1995) reconsiders the results reported in an earlier paper of the authors (1993) on inflation convergence in the EMS, and questions their conclusion that there is some evidence supportive of the German Leadership Hypothesis (GLH). Thom criticizes the fact that the authors specify the system in terms of inflation differentials rather than inflation rates, without testing the validity of this restriction by means of a homogeneity tests. |
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