Interest Rate Linkages in the Exchange Rate Mechanism: Tests for Asymmetry, German Dominance and Interest Rate Parity Using Daily Data Over 1990 to 1997

Rodney Thom

Working Papers from College Dublin, Department of Political Economy-

Abstract: Empirical research on interest rate linkages within the European Monetary System (EMS) has concentrated on the concepts of asymmetry and German dominance. Asymmetry is usually taken to mean that German monetary policy is invariant to shocks in other EMS economies while dominance implies that the Bundesbank sets policy so as to insulate the EMS from external disturbances.

Keywords: INTEREST RATE; EUROPE; MONETARY AGREEMENTS (search for similar items in EconPapers)
JEL-codes: E43 (search for similar items in EconPapers)
Pages: 19 pages
Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:fth:dublec:97/11

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