The credibility of the exchange rate after the failure of the European monetary system and in the context of the current crisis

Isabella - Cristiana Sima (), Camelia - Aurelia Marin (), Mihaela Ruxanda and Elena Nisipeanu ()
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Elena Nisipeanu: ACADEMY OF ECONOMIC SCIENCIES - BUCHAREST

Anale. Seria Stiinte Economice. Timisoara, 2012, vol. XVIII, 834-842

Abstract: When in the European Union has appeared for the first time the European Monetary System, some States have met with reluctance while others have embraced almost immediately. However, one thing is certain, until at one point, all States that were part of this system have had confidence in it. Its credibility began to lose after the great crisis of 1992-1993, and in 1999 it was recognised the failure of this system. In the present work we have chosen to analyze the credibility of the exchange rate Euro/dollar after the advent of the single currency on the international market. For this we turned to econometric modeling by multiple regression method. The bottom line is that although some indicators influenteaa this rate more than others, the exchange rate Euro/dollar is still a pretty credible.

Keywords: European Union; crisis; European Monetary System; credibility; exchange rate (search for similar items in EconPapers)
JEL-codes: F15 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:tdt:annals:v:xviii:y:2012:p:834-842

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