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Monetary Policy Challenges of the ECB Facing a Divergent Inflationary Process in the EMU Area

In: Macroeconomics, Finance and Money

Author

Listed:
  • Georg Erber
  • Harald Hagemann

Abstract

Before the process of the European Monetary Union began, the turbulence caused in the internal exchange rate system after the end of the Bretton Woods fixed exchange rate system led to the European Currency Unit (ECU), which was established in 1979, as the forerunner of the euro.1 Derived from a basket of varying amounts of currencies of the EU nations, the ECU was a unit of accounting used to determine exchange rates among the national currencies.

Suggested Citation

  • Georg Erber & Harald Hagemann, 2010. "Monetary Policy Challenges of the ECB Facing a Divergent Inflationary Process in the EMU Area," Palgrave Macmillan Books, in: Giuseppe Fontana & John McCombie & Malcolm Sawyer (ed.), Macroeconomics, Finance and Money, chapter 4, pages 54-74, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-28558-3_4
    DOI: 10.1057/9780230285583_4
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    Cited by:

    1. Liontakis, Angelos E. & Papadas, Christos T., 2009. "Distribution Dynamics of Food Price Inflation Rates in EU: An Alternative Conditional Density Estimator Approach," 113th Seminar, September 3-6, 2009, Chania, Crete, Greece 58084, European Association of Agricultural Economists.

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