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Do Financial Markets Expect a Significant Delay before EMU ?

Author

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  • A. Frachot

    (CREST-ENSAE)

Abstract

This 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.

Suggested Citation

  • A. Frachot, 1997. "Do Financial Markets Expect a Significant Delay before EMU ?," International Finance 9707003, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpif:9707003
    Note: Type of Document - Acrobat PDF; prepared on IBM PC ; to print on HP; pages: 6; figures: included
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/if/papers/9707/9707003.pdf
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    References listed on IDEAS

    as
    1. 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.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    EMU ECU;

    JEL classification:

    • F3 - International Economics - - International Finance
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance

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