How Will the Euro behave?

Daniel Cohen

No 1673, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: This paper investigates theoretically and empirically the effect on exchange rates of integrating monetary policy in Europe. It shows that the likely effect will be to generate a tighter European monetary policy (notwithstanding credibility aspects which are not discussed). The argument is that trade disequilibria will be less of a threat to European monetary policy than it is at the moment. Under certain circumstances, which are explored in the text, this could lead to a more volatile euro than we have currently (as a basket of currencies).

Keywords: Euro; European Monetary Integration; Exchange Rate Fluctuations (search for similar items in EconPapers)
JEL-codes: F3 F4 (search for similar items in EconPapers)
Date: 1997-07
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Citations: View citations in EconPapers (47)

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Working Paper: How will the euro behave ? (1997)
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