This MEDPRO Technical Report shows that the monetary and exchange rate policies conducted by central banks in the south Mediterranean region display apparent homogeneity in their operational frameworks, albeit with some specificities and differing degrees of advancement. While central banks...

Stabilizing the exchange rate is a major monetary policy goal in a number of Mediterranean countries. We present a microstructure model of the foreign exchange market based on technical trading that allows us to categorize de facto exchange rate regimes and to derive a market based measure of...

The gold standard was a monetary system based on fixed exchange rates, whereby domestic prices were pegged to the international price level and a high level of control had to be exercised over the money supply. This meant that fiscal discipline also had to be maintained for a country to remain...