Britain’s Entry Into and Exit From Europe’s Exchange Rate Mechanism, 1990–92, and the Subsequent Pursuit of EMU

Graham Bird

Chapter 10 in International Macroeconomics, 1998, pp 143-152 from Palgrave Macmillan

Abstract: Abstract Every so often a sequence of events occurs in the real world that seems custom-made to illustrate basic economic principles. The UK’s flirtation with the European Exchange Rate Mechanism (ERM) at the beginning of the 1990s — joining in October 1990 and leaving in September 1992 — represents just such a sequence. It is difficult to imagine a better designed case study of the international macroeconomics developed throughout the earlier chapters of this book.

Keywords: Exchange Rate; Interest Rate; Monetary Policy; Monetary Union; Foreign Exchange Market (search for similar items in EconPapers)
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-37229-0_10

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DOI: 10.1057/9780230372290_10

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