Bredin, Donal; Fountas, Stilianos - In: Journal of Economic Studies 25 (1998) 5, pp. 353-369
The paper tests for long‐run monetary policy convergence and short‐run policy interactions in seven ERM countries over … evidence for very little monetary policy convergence, even during the more stable 1987‐92 period. Tests for short‐run monetary … policy interactions show that, in agreement with some other studies, Germany is not the leader country in the system as it …