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A Two-Country Model with Asymmetric Phillips Curves and Intervention in the Foreign Exchange Market
Artis, Michael J; Gazioglu, Saziye - C.E.P.R. Discussion Papers - 1987
In this paper simulation methods are employed on a two-country, rational expectations continuous-time model to explore the consequences of asymmetrical wage-price processes. As an additional feature the effects are explored of reductions in the degree of financial integration between the two...
Persistent link: https://www.econbiz.de/10005662381
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Wages and Prices in Europe: A Test of the German Leadership Thesis
Artis, Michael J; Nachane, Dilip M - C.E.P.R. Discussion Papers - 1989
The paper presents various tests of the hypothesis that, through the mechanism of the European Monetary System. Germany exercised a counter-inflationary leadership role in the 1980s. Evidence is provided that expectations of German inflation may be thought of as having impacted more strongly on...
Persistent link: https://www.econbiz.de/10005792171
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Exchange Rates and the EMS: Assessing the Track Record
Artis, Michael J; Taylor, Mark P - C.E.P.R. Discussion Papers - 1988
(real or nominal, bilateral or effective) exchange rate volatility? If so, has this been at the expense of increased … interest rate volatility? How important have capital controls been for the operation of the EMS? Has the Exchange Rate … Mechanism reduced the volatility of unanticipated exchange rate changes? Has the EMS been effective in making ERM currencies …
Persistent link: https://www.econbiz.de/10005661462