Issues of European monetary integration
In recent years significant progress has been made towards European monetary integration. Widespread agreement as to the role of monetary policy has been established and there were no realignments of exchange rates within the European Monetary System between March 1983 and July 1985. This was the longest period without realignment in the EMS and contrasted sharply with the six realignments observed in the four years previously. What are the prospects for the further strengthening of the EMS? How can the present system be developed further?
KeywordsExchange Rate Monetary Policy Current Account Real Exchange Rate Capital Movement
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- 1.See in this context also Heinrich Matthes: Will exchange rate movements impede the economic recovery?, in: Economic Forecasts (North-Holland), Vol. 1, No. 3, September 1984, pp. 16–19.Google Scholar