Asymmetry in the ERM
AbstractWe study empirically daily French and German interest rate changes since the Basle-Nyborg agreement of September 1987. In particular, we ask whether the shock associated with German unification altered the degree of leadership of German monetary policy in the ERM. We conclude that Germany’s leadership role within the ERM largely disappeared in the year following unification but that the Bundesbank has recently begun to reassert its predominance.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 92/96.
Date of creation: 01 Nov 1992
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- Hali J. Edison & Linda S. Kole, 1994.
"European monetary arrangements: implications for the dollar, exchange rate variability and credibility,"
International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.)
468, Board of Governors of the Federal Reserve System (U.S.).
- Mali J. Edison & Linda S. Kole, 1995. "European monetary arrangements: Implications for the dollar, exchange rate variability and credibility," European Financial Management, European Financial Management Association, European Financial Management Association, vol. 1(1), pages 61-86.
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