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Exchange Rate Variability Inside and Outside the EMU

Author

Listed:
  • Bergbom, L.

Abstract

An often heard view is that exchange rate variability will decrease for a country that joins the EMU. This is not necessarily true. Both real and nominal exchange rate variability increase under certain circumstances when asymmetric demand shocks occur inside or outside the union. These results are obtained theoretically within a standard international macro-model but they also remain valid in a numerical simulation of this model.

Suggested Citation

  • Bergbom, L., 1998. "Exchange Rate Variability Inside and Outside the EMU," Papers 1998:26, Uppsala - Working Paper Series.
  • Handle: RePEc:fth:uppaal:1998:26
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    Cited by:

    1. Bergvall, Anders, 2000. "Exchange Rate Regimes and Macroeconomic Stability: The Case of Sweden 1972-1996," Working Paper Series 2000:25, Uppsala University, Department of Economics.

    More about this item

    Keywords

    EXCHANGE RATE ; ECONOMIC INTEGRATION ; FINANCIAL MARKET;

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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