Abstract
Spain and Portugal became members of the EC in 1986 and joined the EMS at the Madrid European summit of 26–27 June 1989. This paper explores how these Southern European countries may benefit from involvement in EMS mechanisms and, subsequently, in a European monetary union.
The findings presented in this paper are based on the resolution of a mathematical model. Space requirements prevented us from including the mathematical derivations of the model here, but we will be happy to provide them on request. Please write to: Patrick Artus, Head of the Department of Economic and Financial Analysis, and Claude Dupuy, Economist, Caisse des Dépôts et Consignations, 195 Boulevard Saint-Germain, 75007 Paris, France.
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© 1992 Confederation of European Economic Associations
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Artus, P., Dupuy, C. (1992). The Entry of Southern Countries Into the European Monetary System. In: Baltensperger, E., Sinn, HW. (eds) Exchange-Rate Regimes and Currency Unions. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-22039-7_2
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DOI: https://doi.org/10.1007/978-1-349-22039-7_2
Publisher Name: Palgrave Macmillan, London
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