AN EMPIRICAL EXAMINATION OF EXCHANGE RATE STABILITY: CASE STUDY: EUROPEAN MONETARY SYSTEM
Abstract
We examine the stability of exchange rates among the members of the European Monetary System (EMS), using the JohansenâJuselius multivariate cointegration (systems) analysis. The direct implication from cointegration theory is that exchange rate stability vis a vis EMS member countries has been achieved. This allows us to study the speed of convergence of different currencies towards the equilibrium path.
Citation
Dutt, S.D. and Ghosh, D. (1995), "AN EMPIRICAL EXAMINATION OF EXCHANGE RATE STABILITY: CASE STUDY: EUROPEAN MONETARY SYSTEM", Studies in Economics and Finance, Vol. 16 No. 1, pp. 64-84. https://doi.org/10.1108/eb028718
Publisher
:MCB UP Ltd
Copyright © 1995, MCB UP Limited