Abstract
In this paper some aspects of the functioning of the European monetary system (EMS) are investigated. Three issues will be analysed. First, the choice of the currency in the intervention policies is studied. In particular the question will be asked what difference it makes to choose between an EMS currency or an external currency (the dollar) for the adjustment mechanism in the national money markets.
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© 1982 Roy A. Batchelor and Geoffrey E. Wood
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de Grauwe, P., van den Bergh, P. (1982). Alternative Intervention Rules in the Exchange Markets of the European Monetary System. In: Batchelor, R.A., Wood, G.E. (eds) Exchange Rate Policy. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-16863-7_4
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DOI: https://doi.org/10.1007/978-1-349-16863-7_4
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-16865-1
Online ISBN: 978-1-349-16863-7
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