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

Francisco Ledesma (), Manuel Navarro-IbaÑez (), Jorge V. Pérez-Rodríguez () and Simon Sosvilla-Rivero ()

No E2003/33, Economic Working Papers at Centro de Estudios Andaluces from Centro de Estudios Andaluces

Abstract: 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.

Keywords: Exchange rates; European Monetary System. (search for similar items in EconPapers)
JEL-codes: C32 F31 F33 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-eec and nep-ifn
Date: 2003
View list of references View citations in EconPapers

Downloads: (external link)
http://public.centrodeestudiosandaluces.es/pdfs/E200333.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:cea:doctra:e2003_33

Access Statistics for this paper

More papers in Economic Working Papers at Centro de Estudios Andaluces from Centro de Estudios Andaluces
Address: c/ Bailén 50. 41001 Sevilla
Contact information at EDIRC.
Series data maintained by Teresa Rodríguez ().