Originality/value of chapter – At our best knowledge, the single paper that studied a similar problem since the inception of the European Monetary System (EMS) in early 1979 was the research paper of Rose and Svensson (1993). Our findings are original in the sense that we find meaningful relationships between realignment expectations and financial crisis (systemic and nonsystemic crisis) and macroeconomic variables. Our research also wishes to contribute to the emergence of the recent studies on European exchange rate credibility.
Matei, I. (2010), "Chapter 5 European Exchange Rate Credibility: An Empirical Analysis", Jawadi, F. and Barnett, W. (Ed.) Nonlinear Modeling of Economic and Financial Time-Series (International Symposia in Economic Theory and Econometrics, Vol. 20), Emerald Group Publishing Limited, Bingley, pp. 111-119. https://doi.org/10.1108/S1571-0386(2010)0000020010Download as .RIS
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