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Moving the Escudo into the Euro

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Author Info

  • de Macedo, J.B.
  • Nunes, L.C.
  • Covas, F.

Abstract

The paper documents how the code of conduct implied by membership of the escudo in the Exchange Rate Mechanism of the Europan Monetary System (ERM) allowed Portugal to qualify for Economic and Monetary Union (EMU), ultimately moving the currency into the euro. This unwritten code of conduct reflects the conditions under which the ERM can be seen as a convergence instrument.

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Bibliographic Info

Paper provided by Laval - Laboratoire Econometrie in its series Papers with number 1999-14.

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Length: 27 pages
Date of creation: 1999
Date of revision:
Handle: RePEc:fth:lavale:1999-14

Contact details of provider:
Postal: Chaire d'economie et d'econometrie de l'assurance; DELTA; CREST; PARIS, France.

Related research

Keywords: CURRENCIES ; MONEY ; EXCHANGE RATE ; MONETARY UNION;

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  1. Bliss,Christopher & De Macedo,Jorge Braga (ed.), 1990. "Unity with Diversity in the European Economy," Cambridge Books, Cambridge University Press, number 9780521395205.
  2. Hamilton, James D. & Susmel, Raul, 1994. "Autoregressive conditional heteroskedasticity and changes in regime," Journal of Econometrics, Elsevier, vol. 64(1-2), pages 307-333.
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