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Persistent link: https://www.econbiz.de/10005801341
This paper looks at whether the aggregate ERM money supply has been a useful predictor of short-term changes in inflation and growth, and long-term trends in price levels among the core ERM countries. The evidence suggests that over the period since 1987, when there have been no realignments,...
Persistent link: https://www.econbiz.de/10014396218
Persistent link: https://www.econbiz.de/10001730589
When I wrote my book on EMU four years ago (Kenen 1995), very little had been written on the international dimensions of EMU. There was a chapter in the Commission's path-breaking study (European Commission, 1990). There were papers by Alogoskoufis and Portes (1991, 1992), Cooper (1992),...
Persistent link: https://www.econbiz.de/10011417086
Emerging-market countries are being urged to choose between freely floating exchange rates and firmly fixed rates supported by strong institutional arrangementsûcurrency boards, monetary unions, or formal dollarization. This paper assesses the benefits and costs of institutionalizing fixed...
Persistent link: https://www.econbiz.de/10009440104
When I wrote my book on EMU four years ago (Kenen 1995), very little had been written on the international dimensions of EMU There was a chapter in the Commission's path-breaking study (European Commission, 1990). There were papers by Alogoskoufis and Portes (1991, 1992), Cooper (1992), Goodhart...
Persistent link: https://www.econbiz.de/10010295354
Emerging-market countries are being urged to choose between freely floating exchange rates and firmly fixed rates supported by strong institutional arrangementsûcurrency boards, monetary unions, or formal dollarization. This paper assesses the benefits and costs of institutionalizing fixed...
Persistent link: https://www.econbiz.de/10010744874
The subject of this paper is one about which I have written before, but this paper goes further than those published previously. It contemplates the gradual transformation of the global reserve regime by making the IMF’s quasi-currency, the SDR, the primary reserve asset of the international...
Persistent link: https://www.econbiz.de/10011149939
Persistent link: https://www.econbiz.de/10005080263