This paper investigates exchange rate correlations between the euro (ECU) and other currencies against the US dollar across the EMS and EMU periods to compare the European Central Bank's ability with that of the Bundesbank to achieve internal stability of the euro (ECU). Our results show that...

Will China find its way out of the current predicament without resorting to expenditure-switching policies, and how? This paper attempts to approach the question from three perspectives: First, it discusses economic conditions that exist in China which are favourable to maintaining current...

This paper examines asymmetry in exchange rate dependence between domestic and foreign currencies vis-à-vis some world currencies for small inflation targeters, and find mixed evidence. Positive-type asymmetry (i.e., greater dependence during joint appreciations than joint depreciations) is...