AN EMPIRICAL EXAMINATION OF EXCHANGE RATE STABILITY: CASE STUDY: EUROPEAN MONETARY SYSTEM

We examine the stability of exchange rates among the members of the European Monetary System (EMS), using the Johansen‐Juselius multivariate cointegration (systems) analysis. The direct implication from cointegration theory is that exchange rate stability vis a vis EMS member countries has been achieved. This allows us to study the speed of convergence of different currencies towards the equilibrium path.

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Year of publication:	1995
Authors:	Dutt, Swarna D. ; Ghosh, Dipak
Published in:	Studies in Economics and Finance. - MCB UP Ltd, ISSN 1755-6791, ZDB-ID 2070355-7. - Vol. 16.1995, 1, p. 64-84
Publisher:	MCB UP Ltd

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Type of publication:	Article
Type of publication (narrower categories):	review-article
Language:	English
Other identifiers:	10.1108/eb028718 [DOI]
Source:	Other ZBW resources

Persistent link: https://www.econbiz.de/10015013807