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| Author: | Chen, Z. Giovannini, A. |
| Title: | The determinants of realignment expectations under the EMS: Some empirical regularities |
| Journal: | European Economic Review
1997 : DEC, VOL. 41:9, p. 1687-1707 |
| Index terms: | EUROPEAN MONETARY SYSTEM EXCHANGE RATE MECHANISM EUROPEAN UNION |
| Language: | eng |
| Abstract: | The stability of the EMS depends crucially on realignment expectations of the market participants. In the paper, it is discussed how to measure such expectations and how to relate them to economic fundamentals, institutional arrangements of the EMS, and central bank reputation. For FF/DM and IL/DM, empirical regularities are found. |
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