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The EMU in a European Perspective: Lessons from Monetary Regimes in the Twentieth Century

In: The Price of the Euro

Author

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  • Jonas Ljungberg

Abstract

Exchange rate economics is surrounded by mystery. For example, in a recent article in the Stockholm daily Dagens Nyheter (19 April 2003), four former and present chairmen of the board of the Bank of Sweden, the most well-known of which was the former finance minister Feldt, came up with the following propositions: 1. Sweden has benefited from a fixed exchange rate during ‘most of the 20th century’. 2. ‘Large parts of Europe’ have benefited from fixed exchange rates during the last two decades. 3. As a testimony to that Denmark, with fixed exchange rate, is compared with floating Sweden: during the last two decades the living standard of the average Danish household has overtaken and forged ahead of the average Swedish household.

Suggested Citation

  • Jonas Ljungberg, 2004. "The EMU in a European Perspective: Lessons from Monetary Regimes in the Twentieth Century," Palgrave Macmillan Books, in: Jonas Ljungberg (ed.), The Price of the Euro, chapter 8, pages 121-141, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-52380-7_8
    DOI: 10.1057/9780230523807_8
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    Cited by:

    1. Johansson, Tony & Ljungberg, Jonas, 2013. "Asymmetric Trends and European Monetary Policy in the post-Bretton Woods Era," Lund Papers in Economic History 128, Lund University, Department of Economic History.

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