Duarte, António Portugal; Andrade, João Sousa; … - Grupo de Estudos Monetários e Financeiros (GEMF), … - 2008
This work examines the participation of the Portuguese economy in the ERM of the EMS based on some of the main predictions of the target zone literature. The exchange rate distribution reveals that the majority of the observations lie close to the central parity, thus rejecting one of the key...