at Google ScholarTitle data
Herz, Bernhard ; Röger, Werner:
The EMS is a greater Deutschmark area.
In: European Economic Review.
Vol. 36
(1992)
Issue 7
.
- pp. 1413-1425.
ISSN 0014-2921
DOI: https://doi.org/10.1016/0014-2921(92)90075-8
Abstract in another language
There is a wide consensus among policy makers that the EMS has developed into an asymmetric, fixed exchange rate system with Germany being the center country. This view of asymmetry, which is also supported by the game theoretic literature, is at odds with empirical work, which claims that Germany is a member among peers. In contrast to previous studies this paper adopts a more structural approach and derives testable restrictions of the German dominance hypothesis from a general two-country macro model. Our empirical results indicate a pronounced dominance of German monetary policy in the EMS.
Further data
| Item Type: | Article in a journal |
|---|---|
| Refereed: | Yes |
| Institutions of the University: | Faculties > Faculty of Law, Business and Economics > Department of Economics > Chair Economics I - International Economics and Finance > Chair Economics I - International Economics and Finance - Univ.-Prof. Dr. Bernhard Herz Faculties Faculties > Faculty of Law, Business and Economics Faculties > Faculty of Law, Business and Economics > Department of Economics Faculties > Faculty of Law, Business and Economics > Department of Economics > Chair Economics I - International Economics and Finance |
| Result of work at the UBT: | No |
| DDC Subjects: | 300 Social sciences > 330 Economics |
| Date Deposited: | 20 May 2015 06:47 |
| Last Modified: | 20 May 2015 06:47 |
| URI: | https://eref.uni-bayreuth.de/id/eprint/10170 |