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- W346084071 abstract "This chapter discusses the European Monetary System. The European Monetary System (EMS) is of great interest to both academic economists and policymakers. The chapter also reviews the rules of the EMS exchange rate arrangement. The EMS consists of an agreement among the central banks of the European Community to manage intra-Community exchange rates and to finance exchange market interventions. Thus, the exchange rate mechanism of the EMS is only one aspect of the system. Moreover, while only a subset of the EEC countries participate in the exchange rate mechanism, all of them belong to the EMS. The EMS is reminiscent of Bretton Woods, not only because the exchange rate regime incorporated in the two systems is similar but also because both systems embody provisions and institutions for granting monetary support to member countries." @default.
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- W346084071 date "1992-01-01" @default.
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- W346084071 title "THE EUROPEAN MONETARY SYSTEM" @default.
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- W346084071 doi "https://doi.org/10.1016/b978-0-12-444281-8.50039-8" @default.
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