EMU, The Euro and The European Policy Mix:
One year ago most economic observers predicted that "fundamentals" were such that the euro was set to appreciate. In the event, the opposite has occurred. This has rekindled a debate on how well foreign exchange markets reflect fundamental determinants and led to calls for greater exchange...
Gespeichert in:
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| Weitere Verfasser: | , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2000
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| Schriftenreihe: | OECD Economics Department Working Papers
no.232 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | One year ago most economic observers predicted that "fundamentals" were such that the euro was set to appreciate. In the event, the opposite has occurred. This has rekindled a debate on how well foreign exchange markets reflect fundamental determinants and led to calls for greater exchange rate stability, possibly through the introduction of formal exchange rate target zones. The first part of the paper focuses on these issues. It also looks at the euro's prospects as an international currency. To give a better sense of perspective, the paper compares recent exchange rate movements and measures of volatility with longerterm trends. The article argues that the difference in cyclical conditions in the United States and the euro area seems to have been a dominant factor driving the sizeable euro depreciation since early 1999, although when evaluated against longer term trends it appears much less dramatic; the euro is presently at about its past 5-year average level expressed in nominal effective terms ... |
| Beschreibung: | 1 Online-Ressource (44 p.) 21 x 29.7cm. |
| DOI: | 10.1787/524744315352 |
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| spelling | Coppel, Jonathan VerfasserIn aut EMU, The Euro and The European Policy Mix Jonathan, Coppel, Martine, Durand and Ignazio, Visco Paris OECD Publishing 2000 1 Online-Ressource (44 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.232 One year ago most economic observers predicted that "fundamentals" were such that the euro was set to appreciate. In the event, the opposite has occurred. This has rekindled a debate on how well foreign exchange markets reflect fundamental determinants and led to calls for greater exchange rate stability, possibly through the introduction of formal exchange rate target zones. The first part of the paper focuses on these issues. It also looks at the euro's prospects as an international currency. To give a better sense of perspective, the paper compares recent exchange rate movements and measures of volatility with longerterm trends. The article argues that the difference in cyclical conditions in the United States and the euro area seems to have been a dominant factor driving the sizeable euro depreciation since early 1999, although when evaluated against longer term trends it appears much less dramatic; the euro is presently at about its past 5-year average level expressed in nominal effective terms ... Economics Euro Area Durand, Martine MitwirkendeR ctb Visco, Ignazio MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/524744315352 Volltext |
| spellingShingle | Coppel, Jonathan EMU, The Euro and The European Policy Mix Economics Euro Area |
| title | EMU, The Euro and The European Policy Mix |
| title_auth | EMU, The Euro and The European Policy Mix |
| title_exact_search | EMU, The Euro and The European Policy Mix |
| title_full | EMU, The Euro and The European Policy Mix Jonathan, Coppel, Martine, Durand and Ignazio, Visco |
| title_fullStr | EMU, The Euro and The European Policy Mix Jonathan, Coppel, Martine, Durand and Ignazio, Visco |
| title_full_unstemmed | EMU, The Euro and The European Policy Mix Jonathan, Coppel, Martine, Durand and Ignazio, Visco |
| title_short | EMU, The Euro and The European Policy Mix |
| title_sort | emu the euro and the european policy mix |
| topic | Economics Euro Area |
| topic_facet | Economics Euro Area |
| url | https://doi.org/10.1787/524744315352 |
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