A simple two-country stochastic model is used to analyze monetary policy interaction in a system of exchange rate bands such as the EMS, in the context of internationally-integrated financial markets. We consider the widely-acknowledged asymmetry of the system, as it pertains to member...

This book discusses recent developments in theoretical and empirical business cycle analysis, identifying possible applications of sophisticated tools by private and public institutions involved in the analysis of economic fluctuations and facilitating interaction between academics, researchers...