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- W1584989744 abstract "Many economists and policy makers have argued that the industrialized countries could minimize exchange-rate volatility and enhance economic stability if West Germany, Japan, and the United States linked their currencies in a target zone arrangement.Under a target-zone system, countries adjust their national economic policies to maintain their exchange rates within a specific margin around agreed-upon, fixed central exchange rates. I Such a system already exists for the major European currencies in the form of the Exchange Rate Mechanism (ERM) of the European Monetary System (EMS). A review of the ERM provides valuable lessons about the operations, costs, and benefits of target-zone arrangements." @default.
- W1584989744 created "2016-06-24" @default.
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- W1584989744 date "1987-08-15" @default.
- W1584989744 modified "2023-09-24" @default.
- W1584989744 title "Lessons from the European Monetary System" @default.
- W1584989744 hasPublicationYear "1987" @default.
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