Do Financial Markets Expect a Significant Delay before EMU ?
AbstractThis short note shows that there exists a simple relation between the private ECU, its theoretical value and the associated interest rates. From this relation, one can estimate the time to EMU as expected by financial markets and see whether this time is consistent with a monetary union taking place on January 1, 1999.
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Bibliographic InfoPaper provided by EconWPA in its series International Finance with number 9707003.
Length: 6 pages
Date of creation: 31 Jul 1997
Date of revision:
Note: Type of Document - Acrobat PDF; prepared on IBM PC ; to print on HP; pages: 6; figures: included
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Find related papers by JEL classification:
- F3 - International Economics - - International Finance
- F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
This paper has been announced in the following NEP Reports:
- NEP-ALL-1998-10-02 (All new papers)
- NEP-FMK-1998-10-08 (Financial Markets)
- NEP-IFN-1998-10-02 (International Finance)
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.:
- D. F. I. Folkerts-Landau & Peter M. Garber, 1994. "Determining the Value of a Financial Unit of Account Basedon Composite Currencies," IMF Working Papers 94/72, International Monetary Fund.
- David Folkerts-Landau & Peter M. Garber, 1995. "Determining the Value of a Financial Unit of Account Based on Composite Currencies: The Case of the Private ECU," IMF Staff Papers, Palgrave Macmillan, vol. 42(1), pages 134-157, March.
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