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| Author: | Gibson, H. D. |
| Title: | Realignment probabilities and reputation effects in the EMS |
| Journal: | Oxford Economic Papers
2003 : APR, VOL. 55:2, p. 314-335 |
| Index terms: | Macroeconomics European Monetary System Exchange rate mechanism |
| Freeterms: | EMS ERM |
| Language: | eng |
| Abstract: | The results of this study provide support for the idea that realignments are dependent on macroeconomic conditions, as suggested by theory, and hence a country's participation in a target zone system could become more credible if macroeconomic conditions are improved. There is less evidence, however, of an independent role for reputation effects. |
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