A Brief Background

Richard Friberg
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Richard Friberg: Stockholm School of Economics

Chapter 11 in Exchange Rates and the Firm, 1999, pp 111-115 from Palgrave Macmillan

Abstract: Abstract So much for strategies to manage exchange rate exposure. The largest institutional change to take place on the monetary scene for a very long time is the Economic and Monetary Union in Europe (EMU). At the time of writing, the shape of EMU is still surrounded by great clouds of uncertainty – we still do not know if it will actually come into being with a common currency from 2002 or not. Neither do we know the exact modus operandi of the European Central Bank (ECB). How will discussions go? How much will national governments try to influence monetary policy? There are many questions, the answers to which will only gradually be learned. Needless to say, EMU will change the exchange rate exposure of essentially any European firm; of firms exporting to Europe and of those exposed to the EMU-area through competitors, imported inputs, or some other channel.

Keywords: Exchange Rate; Monetary Policy; Euro Area; European Central Bank; Common Currency (search for similar items in EconPapers)
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-333-98237-2_11

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DOI: 10.1057/9780333982372_11

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