Real Exchange Rates and Trade Imbalances in the EMS

Stefano Vona

Chapter 4 in Prospects for the European Monetary System, 1990, pp 59-89 from Palgrave Macmillan

Abstract: Abstract Perhaps in reaction to the scepticism with which the establishment of the EMS was greeted by many economists and by most European central banks, celebrations of the ten years of the EMS tend to magnify the System’s virtues and successes. In this chapter, I have tried to follow a more balanced approach in analysing the relatively neglected effects of the EMS on real economic variables.2

Keywords: Exchange Rate; Current Account; Fiscal Policy; Real Exchange Rate; European Central Bank (search for similar items in EconPapers)
Date: 1990
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-11629-4_4

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DOI: 10.1007/978-1-349-11629-4_4

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