What people are saying - Write a review
We haven't found any reviews in the usual places.
The Participation of Sterling in the EMS
2 other sections not shown
adjustment argued asymmetry Bretton Woods system Bundesbank capital controls capital flows capital mobility central bank money central rate CEPS changes coordination credibility currency substitution current account debt/GNP ratio deflationary bias devaluation dollar domestic interest rates economic effects EMS central banks EMS countries EMS currencies EMS members EMS obligations EMS period European central banking European Community European monetary integration exchange rate variability exchange-rate existing external financial integration firstly fiscal policy framework France French franc function German monetary policy growth impact implies inflation rates institution interest rate differentials international reserves intervention intra-European Italian lira Italy lira major monetary aggregates monetary target national central banks national currencies Netherlands nominal exchange rates observed Open Market Committee parallel currency parities political potential present EMS price level private ECU real exchange rates real interest rates realignments reduced relative Section short-term Spain third currencies transactions turbulent periods UK authorities United Kingdom vis-a-vis West Germany