EMU and Transatlantic Exchange Rate Stability

Agnès Bénassy-Quéré () and Benoit Mojon ()

Working Papers from CEPII research center

Abstract: The question of the impact of EMU on the stability of the transatlantic exchange rate raises the more general question of whether the exchange rate is a useful adjustment instrument or an additional source of shocks. The end of Bretton Woods system was motivated by the hope that flexible exchange rates would isolate the economies from shocks coming form their partners', and help them to face domestic shocks.

Keywords: EXCHANGE RATE; EURO; SIMULATION (search for similar items in EconPapers)
JEL-codes: E52 F02 F31 F33 (search for similar items in EconPapers)
Date: 1998-03
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