Monetary policy in the European monetary system: a critical appraisal
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Berlin [u.a.]
Springer
1996
|
| Series: | European and transatlantic studies
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | X, 146 S. graph. Darst. |
| ISBN: | 3540607846 |
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MARC
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| 100 | 1 | |a Loureiro, João |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Monetary policy in the European monetary system |b a critical appraisal |c João Loureiro |
| 264 | 1 | |a Berlin [u.a.] |b Springer |c 1996 | |
| 300 | |a X, 146 S. |b graph. Darst. | ||
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| 650 | 7 | |a Monetaire politiek |2 gtt | |
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Record in the Search Index
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| adam_text |
CONTENTS
CHAPTER
1
INTRODUCTION
1
CHAPTER
2
THE
ORIGINS,
DESIGN
AND
WORKING
OF
THE
EUROPEAN
MONETARY
SYSTEM
5
2.1.
THE
ORIGINS
OF
THE
EMS
5
2.2.
THE
DESIGN
OF
THE
EMS
6
2.3.
THE
WORKING
OF
THE
EMS
8
CHAPTER
3
"LEANING
AGAINST
THE
WIND"
IN
THE
EMS:
DID
IT
WORK?
AN
ANALYSIS
OF
THE
PERIOD
FROM
1979
TO
1988
13
3.1.
INTRODUCTION
13
3.2.
AN
EXCHANGE
MARKET
PRESSURE
MODEL
OF
THE EMS
16
3.3.
ASSESSING
FOREIGN
EXCHANGE
INTERVENTION:
METHODOLOGY
19
3.4.
DATA
25
3.5.
RESULTS
28
3.6.
SUMMARY
AND
CONCLUSIONS
34
APPENDICES
36
CHAPTER
4
"LEANING
AGAINST
THE
WIND"
THROUGH
INTEREST
RATE
MANAGEMENT:
THE
EMS
IN
THE
PERIOD
FROM
1979
TO
1988
45
4.1.
INTRODUCTION
45
4.2.
INTEREST
RATE
MANAGEMENT
AND
FOREIGN
EXCHANGE
MARKET
EFFECTS
46
4.3.
METHODOLOGY
AND
DATA
48
4.4.
RESULTS
AND
CONCLUSIONS
49
CHAPTER
5
MONETARY
AUTONOMY
IN
THE
EMS
53
5.1.
INTRODUCTION
53
5.2.
ASSESSING
MONETARY
AUTONOMY
54
5.3.
DATA
55
X
5.4.
RESULTS
56
5.4.1.
THE
PERIOD
OF
REALIGNMENTS,
1979-1988
56
5.4.2.
THE
"NEW
EMS",
1987-1992
61
5.5.
SUMMARY
AND
CONCLUSIONS
64
CHAPTER
6
THE
DISCIPLINE
HYPOTHESIS:
WHAT
ROLE
FOR
THE
EMS?
67
6.1.
INTRODUCTION
67
6.2.
THE
"TYING-ONE'S-HANDS"
MODEL
OF
DISCIPLINE
69
6.3.
SOME
THEORETICAL
PROBLEMS
WITH
THE
EMS
DISCIPLINE
HYPOTHESIS
72
6.3.1.
IS
THE
EMS
TIME-CONSISTENT?
72
6.3.2.
THE
ALTERNATIVES
TO
EXCHANGE
RATE
PEGGING
73
6.3.3.
THE
ROLE
OF
FOREIGN
EXCHANGE
CONTROLS
74
6.3.4.
HOW
DO
WE
EXPLAIN
GERMAN
PARTICIPATION
IN
THE
EMS?
74
6.4.
THE
EMS
DISCIPLINE/CREDIBILITY
HYPOTHESES:
EMPIRICAL
EVIDENCE
75
6.5.
THE
RECORD
OF
THE
UNEMPLOYMENT/INFLATION
TRADE-OFF
79
6.6.
THE
EMS
AS
A
DEVICE
FOR
SELF-IMPOSED
DISCIPLINE
90
6.6.1.
METHODOLOGY
92
6.6.2.
DATA
93
6.6.3.
RESULTS
94
6.7.
SUMMARY
AND
CONCLUSIONS
97
APPENDICES
99
CHAPTER
7
IN
SEARCH
OF
A
CREDIBLE
EMS
103
7.1.
INTRODUCTION
103
7.2.
SVENSSON'S
"SIMPLEST
TEST
OF
TARGET
ZONE
CREDIBILITY"
104
7.2.1.
DATA
106
7.2.2.
RESULTS
106
7.3.
IMPROVEMENT
OF
EMS
EXCHANGE
RATE
CREDIBILITY
111
7.3.1.
CREDIBILITY
AND
FORWARD
MARKET
EXCESS
RETURNS
111
7.3.2.
METHODOLOGY
115
7.3.3.
DATA
117
7.3.4.
RESULTS
117
7.4.
SUMMARY
AND
CONCLUSIONS
125
CHAPTER
8
SUMMARY
AND
CONCLUSIONS
127
REFERENCES
129
SUBJECT
INDEX
139
LIST
OF
FIGURES
145
LIST
OF
TABLES
147 |
| any_adam_object | 1 |
| author | Loureiro, João |
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| indexdate | 2024-08-14T01:17:38Z |
| institution | BVB |
| isbn | 3540607846 |
| language | English |
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| spelling | Loureiro, João Verfasser aut Monetary policy in the European monetary system a critical appraisal João Loureiro Berlin [u.a.] Springer 1996 X, 146 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier European and transatlantic studies European Monetary System (Organization) Europees Monetair Stelsel gtt Monetaire politiek gtt Monetary policy -- European Economic Community countries Money -- European Economic Community countries Europäisches Währungssystem (DE-588)4015756-8 gnd rswk-swf Währungspolitik (DE-588)4064152-1 gnd rswk-swf Geschichte (DE-588)4020517-4 gnd rswk-swf Geldpolitik (DE-588)4019902-2 gnd rswk-swf Europäische Gemeinschaften. Mitgliedsstaaten Europäisches Währungssystem (DE-588)4015756-8 s Geldpolitik (DE-588)4019902-2 s Geschichte (DE-588)4020517-4 s DE-604 Währungspolitik (DE-588)4064152-1 s DNB Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=007080357&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Loureiro, João Monetary policy in the European monetary system a critical appraisal European Monetary System (Organization) Europees Monetair Stelsel gtt Monetaire politiek gtt Monetary policy -- European Economic Community countries Money -- European Economic Community countries Europäisches Währungssystem (DE-588)4015756-8 gnd Währungspolitik (DE-588)4064152-1 gnd Geschichte (DE-588)4020517-4 gnd Geldpolitik (DE-588)4019902-2 gnd |
| subject_GND | (DE-588)4015756-8 (DE-588)4064152-1 (DE-588)4020517-4 (DE-588)4019902-2 |
| title | Monetary policy in the European monetary system a critical appraisal |
| title_auth | Monetary policy in the European monetary system a critical appraisal |
| title_exact_search | Monetary policy in the European monetary system a critical appraisal |
| title_full | Monetary policy in the European monetary system a critical appraisal João Loureiro |
| title_fullStr | Monetary policy in the European monetary system a critical appraisal João Loureiro |
| title_full_unstemmed | Monetary policy in the European monetary system a critical appraisal João Loureiro |
| title_short | Monetary policy in the European monetary system |
| title_sort | monetary policy in the european monetary system a critical appraisal |
| title_sub | a critical appraisal |
| topic | European Monetary System (Organization) Europees Monetair Stelsel gtt Monetaire politiek gtt Monetary policy -- European Economic Community countries Money -- European Economic Community countries Europäisches Währungssystem (DE-588)4015756-8 gnd Währungspolitik (DE-588)4064152-1 gnd Geschichte (DE-588)4020517-4 gnd Geldpolitik (DE-588)4019902-2 gnd |
| topic_facet | European Monetary System (Organization) Europees Monetair Stelsel Monetaire politiek Monetary policy -- European Economic Community countries Money -- European Economic Community countries Europäisches Währungssystem Währungspolitik Geschichte Geldpolitik Europäische Gemeinschaften. Mitgliedsstaaten |
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