In different ways, Denmark, Finland, Norway and Sweden pegged their foreign exchange rates against the German mark … Finland, Norway and Sweden pegged their currencies closer to the German mark during 1990-1991, they had no recent period of … during 1973-1992. This paper assesses the credibility of the German mark exchange rates of these Nordic countries. The test …

different methods to study the credibility of the detected fluctuation bands. The detected lack of credibility in a high … percentage of the sample is robust to the use of several credibility tests, suggesting that economic agents do not behave as if …