کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
7343490 | 1476317 | 2008 | 30 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
The Credibility of the European monetary System: A Review
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
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چکیده انگلیسی
The paper presents an overview of several studies about the credibility of the European Monetary System (EMS). These studies compare different credibility indicators in terms of their ability to detect exchange rate crises in a target zone. Marginal credibility seems to be the best measure for capturing the main events. The credibility indices are also applied to the first years of the current ERM-II. The history of the EMS suggests that, in an environment of financial deregulation and high capital flows, such an exchange rate system can only operate as a temporary regime that is moving towards a full monetary union, since it may be too fragile as a permanent monetary regime
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Cuadernos de EconomÃa - Volume 31, Issue 86, MayâAugust 2008, Pages 5-34
Journal: Cuadernos de EconomÃa - Volume 31, Issue 86, MayâAugust 2008, Pages 5-34
نویسندگان
Francisco Ledesma RodrÃguez, Manuel Navarro Ibáñez, Jorge Pérez RodrÃguez, Simón Sosvilla Rivero,