On the Credibility of a Target Zone: Evidence from the EMS

We provide some new evidence on the credibility of the Exchange Rate Mechanism of the European Monetary System. To that end, we use of several credibility indicators, analysing the complete EMS history. We also compare the prediction qualities of the different indicators, and apply them to the experience of the new ERM linking the currencies of non-euro area Member States to the euro.

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Year of publication:	2003
Authors:	Ledesma-Rodríguez, Francisco ; Navarro-Ibáñez, Manuel ; Pérez-Rodríguez, Jorge ; Sosvilla-Rivero, Simón
Institutions:	Centro de Estudios Andaluces, Government of Andalusia
Subject:	Exchange rates \| European Monetary System

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Extent:	application/pdf
Series:	Economic Working Papers at Centro de Estudios Andaluces.
Type of publication:	Book / Working Paper
Notes:	Number E2003/33 44 pages
Classification:	C32 - Time-Series Models ; F31 - Foreign Exchange ; F33 - International Monetary Arrangements and Institutions
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005063135