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Interpreting the ERM Crisis: Country-Specific and Systemic Issues

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Author Info

  • Buiter, W.H.
  • Corsetti, G.M.
  • Pesenti, P.A.

Abstract

The crisis of the European exchange-rate system (ERM) in 1992093 was a critical event in the post- Bretton Woods history of the international monetary system. A full understanding of the causes, origins, and implications of the ERM breakdown can privide policy lessons that are particularly relevant, although by no means confined, to the current debate on the monetary future of Europe.

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Bibliographic Info

Paper provided by International Economics Section, Departement of Economics Princeton University, in its series Princeton Studies in International Economics with number 84.

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Length: 74 pages
Date of creation: 1998
Date of revision:
Handle: RePEc:fth:prinfi:84

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Postal: International Finance Section, Department of Economics Princeton University, Princeton, New Jersey, U.S.A
Phone: (609) 258-4000
Fax: (609) 258-6419
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Web page: http://www.econ.princeton.edu/
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Keywords: EXCHANGE RATE ; EUROPE ; MONETARY AREAS;

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  1. Cooper, Richard N., 1985. "Economic interdependence and coordination of economic policies," Handbook of International Economics, in: R. W. Jones & P. B. Kenen (ed.), Handbook of International Economics, edition 1, volume 2, chapter 23, pages 1195-1234 Elsevier.
  2. Currie,David & Levine,Paul, 2009. "Rules, Reputation and Macroeconomic Policy Coordination," Cambridge Books, Cambridge University Press, number 9780521104609.
  3. Corsetti, G. & Cavallari, L., 1996. "Policy Making and Speculative Attacks in Models of Exchange Rate Crises: A Synthesis," Papers 752, Yale - Economic Growth Center.
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