Interest rate causality and asymmetry in the EMS

This paper investigates the hypothesis of an asymmetric EMS under German leadership in the period from 1983 to 1991. The approach adopted was to undertake Granger-causality tests on daily observations of changes in interest rates. For the group of core countries we find that, in recent years, the EMS has operated asymmetrically. This asymmetry has developed over the years and was not evident prior to 1987. Copyright Kluwer Academic Publishers 1992

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Year of publication:	1992
Authors:	Biltoft, Karsten ; Boersch, Christian
Published in:	Open Economies Review. - Springer. - Vol. 3.1992, 3, p. 297-306
Publisher:	Springer
Subject:	EMS \| asymmetry \| Granger-causality

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005715145