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The first systematic analysis of why Britain and France parted company on the issue of European monetary integration … thought; Britain and France pursued broadly similar policies on the issue until the end of the 1970s …
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We study empirically daily French and German interest rate changes since the Basle-Nyborg agreement of September 1987. In particular, we ask whether the shock associated with German unification altered the degree of leadership of German monetary policy in the ERM. We conclude that Germany’s...
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France and Germany separately. Second, the predictive power of the core-ERM aggregate relative to French and German inflation …
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