Della Posta, Pompeo - In: Economia Internazionale / International Economics 55 (2002) 4, pp. 479-499
Focusing on the 1992-93 crisis of the European Monetary System (Ems), I stress, in opposition with the conclusions reached by “escape clause” models, the role played by the availability of foreign reserves. In particular, I show the lack of credibility of the Bundesbank’s commitment to...
