Macedo, Jorge Braga de; Nunes, Luis Catela; Pereira, … - Faculdade de Economia, Universidade Nova de Lisboa - 2003
For Portugal, the transition to the Euro began in September 1989 and featured three successive institutional arrangements related to the Exchange Rate Mechanism of the European Monetary System: shadowing it, belonging to it with 6% and then with 15% fluctuation bands. Using daily data, we study...