Euro Weakness in the Late Nineties

Giovanni Rossi

MPRA Paper from University Library of Munich, Germany

Abstract: The depreciation of the euro vis-à-vis the dollar over its first two years is a fact of life. By contrast the present paper offers some econometric evidence with daily data that, within a sticky price framework, monetary fundamentals may have played a role in this depreciation. A fast monetary expansion with continental European interest rate convergence in 1998 and an accommodative ECB monetary stance in 1999 would thus bear some responsibility in the weakening of the euro.

Keywords: Euro; EMU (search for similar items in EconPapers)
JEL-codes: F36 (search for similar items in EconPapers)
Date: 2004-07-01
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Published in European Political Economy Review Summer.3(2004): pp. 132-138

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:90272

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