German dominance in the European Monetary System: a reprise using robust Wald tests

G. Geoffrey Booth and Cetin Ciner

Applied Economics Letters, 2005, vol. 12, issue 8, 463-466

Abstract: This study re-examines the German dominance hypothesis in the EMS. A VAR in levels approach is adopted and modified Wald tests, which are robust to cointegration properties of the variables, are used. The findings indicate that, although Germany played a measurable role, the extent of monetary cooperation in the system was greater than previously detected.

Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:12:y:2005:i:8:p:463-466

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DOI: 10.1080/13504850500120359

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