haku: @journal_id 801 / yhteensä: 106
viite: 60 / 106
| Tekijä: | Folkerts-Landau, D. Garber, P. |
| Otsikko: | Determining the value of a financial unit of account based on composite currencies: the case of the private ECU |
| Lehti: | Staff Papers
1994 : MAR, VOL. 42:1, p. 134-157 |
| Asiasana: | MANAGEMENT CURRENCY FINANCE |
| Kieli: | eng |
| Tiivistelmä: | The paper presents evidence from the past three years which indicates that the exchange rate between the private ECU and the official ECU Basket can deviate substantially from par. The value of the private ECU is driven by expectations that a future European Central Bank will enforce par convertibility between the private ECU and the official ECU basket of currencies. Meanwhile, no existing institutional arrangement limits the private ECU's value in terms of the Basket. |
SCIMA