Interest Rate Linkages in the Exchange Rate Mechanism : Tests for Asymmetry, German Dominance and Interest Rate Parity Using Daily Data Over 1990 to 1997
AbstractEmpirical research on interest rate linkages within the European Monetary System (EMS) has concentrated on the concepts of asymmetry and German dominance. Asymmetry is usually taken to mean that German monetary policy is invariant to shocks in other EMS economies while dominance implies that the Bundesbank sets policy so as to insulate the EMS from external disturbances.
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Bibliographic InfoPaper provided by College Dublin, Department of Political Economy- in its series Papers with number 97/11.
Length: 19 pages
Date of creation: 1997
Date of revision:
Contact details of provider:
Postal: Ireland; University College Dublin, Department of Political Economy, Centre for Economic Research, Belfield, Dublin 4
Fax: +353-1-283 0068
Web page: http://www.ucd.ie/economics/
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INTEREST RATE ; EUROPE ; MONETARY AGREEMENTS;
Find related papers by JEL classification:
- E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
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