search query: @author Giovannini, A. / total: 7
reference: 6 / 7
| Author: | Giavazzi, F. Giovannini, A. |
| Title: | Exchange rates and prices in Europe. |
| Journal: | Weltwirtschaftliches Archiv
1987 : VOL. 123:4, p. 592-605 |
| Index terms: | EXCHANGE RATES PRICES EUROCURRENCY MARKETS MONETARY POLICY EUROPE |
| Language: | eng |
| Abstract: | This paper discusses centralized exchange-rate setting in a monetary union characterized by asymetries in the transmission of price disturbances. It shows that the presence of these asymetries makes a system of irrevocably fixed exchange rates suboptimal whenever nominal exchange rate changes can be used effectivelz, together with monetary policy, to counteract external shocks. |
SCIMA