Hu, Michael; Jiang, Christine; Tsoukalas, Christos - In: Applied Financial Economics 14 (2004) 5, pp. 313-325
The objective of the European Monetary System (EMS) is to increase the coherence of its member economies and to facilitate the process towards the European Monetary Union. One major element in the process has been the coordinated effort in reducing the volatility of the member currencies through...