Moving the Escudo into the Euro

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Moving the Escudo into the Euro

Author Info

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

Additional information is available for the following registered author(s):

Francisco Covas

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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Publisher 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

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

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Paper
- Braga de Macedo, Jorge & Catela Nunes, Luís & Covas, Francisco, 1999. "Moving the Escudo into the Euro," CEPR Discussion Papers 2248, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
- Braga de Macedo, J. & Catela Nunes, L. & Covas, F., 1999. "Moving the escudo into the euro," DELTA Working Papers 1999-14, DELTA (Ecole normale supérieure).

Find related papers by JEL classification:
F31 - International Economics - - International Finance - - - Foreign Exchange
F30 - International Economics - - International Finance - - - General
E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Hamilton, James D. & Susmel, Raul, 1994. "Autoregressive conditional heteroskedasticity and changes in regime," Journal of Econometrics, Elsevier, vol. 64(1-2), pages 307-333. [Downloadable!] (restricted)
Other versions:
- James D. Hamilton & Raul Susmel, 1993. "Autoregressive Conditional Heteroskedasticity and Changes in Regime," University of California at San Diego, Economics Working Paper Series 93-28, Department of Economics, UC San Diego.

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