Monetary Interdependence Within the European Monetary System

Paul Grauwe, Michele Fratianni and Mustapha K. Nabli
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Paul Grauwe: Catholic University of Leuven
Mustapha K. Nabli: University of Tunis

Chapter 8 in Exchange Rates, Money and Output, 1985, pp 159-172 from Palgrave Macmillan

Abstract: Abstract The large fluctuations of the dollar in the European exchange markets led to the creation of the European Monetary System (EMS) in 1979. The major objective of this system was to reduce the exchange rate volatility within Europe, without, however, returning to immutably fixed exchange rates.

Keywords: Exchange Rate; Monetary Policy; Real Exchange Rate; Annual Percentage Change; Nominal Exchange Rate (search for similar items in EconPapers)
Date: 1985
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-17699-1_8

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DOI: 10.1007/978-1-349-17699-1_8

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