search query: @indexterm DEVALUATION / total: 80
reference: 6 / 80
| Author: | Besancenot, D. Vranceanu, R. |
| Title: | Credibility costs in the monetary integration game |
| Journal: | Economics of transition
2003 : VOL. 11:4, p. 727-741 |
| Index terms: | Devaluation European Monetary System Monetary integration |
| Language: | eng |
| Abstract: | Euro candidates are expected to maintain the value of their currency within the fluctuation band of the new exchange rate mechanism for at least two years. Some unpleasant macroeconomic effects that could occur during this interval are highlighted in this article. The problem is cast as two-stage sequential game between private agents and the government of the applicant country. |
SCIMA