Kontulainen, Jarmo; Lehmussaari, Olli-Pekka; Suvanto, Antti - 1990
The paper reviews the Finnish experience of maintaining an explicit currency band since its creation in 1977. The emphasis is on the latter half of the 1980s, which is a period of free capital movements and unregulated domestic money markets. The first part of the paper gives an historical...