Alexandre, Fernando; Bação, Pedro; Cerejeira, João; … - Gabinete de Estratégia e Estudos (GEE), Ministério da … - 2009
Economic theory and empirical evidence suggest that fluctuations in exchange rates may have strong reallocation effects. Accession to the Exchange Rate Mechanism in 1992, and then to the European Monetary Union in 1999, implied a drastic change in the behaviour of Portugal’s exchange rate...