Interpreting the ERM Crisis: Country-Specific and Systemic Issues

Willem Hendrik Buiter, Giancarlo Corsetti () and Paolo A. Pesenti

Princeton Studies in International Economics from International Economics Section, Departement of Economics Princeton University,

Abstract: The crisis of the European exchange-rate system (ERM) in 1992093 was a critical event in the post- Bretton Woods history of the international monetary system. A full understanding of the causes, origins, and implications of the ERM breakdown can privide policy lessons that are particularly relevant, although by no means confined, to the current debate on the monetary future of Europe.

Keywords: EXCHANGE RATE; EUROPE; MONETARY AREAS (search for similar items in EconPapers)
JEL-codes: F31 F33 F36 (search for similar items in EconPapers)
Date: Written 1998
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Related works:
Working Paper: Interpreting the ERM Crisis: Country-Specific and Systemic Issues (1996)
Working Paper: Interpreting the ERM Crisis: Country-Specific and Systemic Issues (1997)
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