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- W2056523695 abstract "Abstract Some proponents of a European monetary union worry that capital mobility and currency substitution will result in unmanageable exchange rate volatility during the transition to monetary union. In this paper we analyze stylized models of exchange rate fluctuation in response to monetary disturbances. We find that if monetary policies within the Community are convergent, higher currency substitution either reduces or does not significantly change the volatility of exchange rates unless there are anticipations of a final realignment." @default.
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- W2056523695 date "1993-11-01" @default.
- W2056523695 modified "2023-09-27" @default.
- W2056523695 title "Currency substitution and exchange rate volatility in the European Community" @default.
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- W2056523695 doi "https://doi.org/10.1016/0022-1996(93)90024-r" @default.
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