haku: @indexterm Exchange Rate Mechanism / yhteensä: 26
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| Tekijä: | Breedon, F. Chui, M. |
| Otsikko: | Will the Euro be stable? |
| Lehti: | Economic Outlook
1998 : NOV, VOL. 23:1, p. 30-35 |
| Asiasana: | European monetary system Exchange rate mechanism Euro |
| Kieli: | eng |
| Tiivistelmä: | The authors look at the impact of EMU on exchange rate volatility. Their empirical evidence suggests that $/Euro volatility will be significantly higher on average than $/DM volatility has been historically, large because the ECB will put less weight on the exchange rate in their policy deliberations than the Bundesbank has done. This result suggests that EMU-outs such as the UK may have to cope with potentially larger exchange rates swings until they make a more formal commitment to EMU. |
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