Sosvilla-Rivero, S.; Maroto-Illera, R. - In: Applied Economics 35 (2003) 18, pp. 1923-1933
This article examines the regime changes in the Exchange Rate Mechanism (ERM) of the European Monetary System (EMS), applying the duration model approach to weekly data of eight currencies participating in the ERM, covering the complete EMS history. When using the non-parametric (univariate)...