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AN EMPIRICAL EXAMINATION OF EXCHANGE RATE STABILITY: CASE STUDY: EUROPEAN MONETARY SYSTEM

Swarna D. Dutt (Assistant Professor, Department of Economics, School of Business, West Georgia College, Carrollton, GA 30118.)
Dipak Ghosh (Visiting Assistant Professor, Tulane University, New Orleans, LA 70118.)

Studies in Economics and Finance

ISSN: 1086-7376

Article publication date: 1 January 1995

Abstract

We examine the stability of exchange rates among the members of the European Monetary System (EMS), using the Johansen‐Juselius multivariate cointegration (systems) analysis. The direct implication from cointegration theory is that exchange rate stability vis a vis EMS member countries has been achieved. This allows us to study the speed of convergence of different currencies towards the equilibrium path.

Citation

Dutt, S.D. and Ghosh, D. (1995), "AN EMPIRICAL EXAMINATION OF EXCHANGE RATE STABILITY: CASE STUDY: EUROPEAN MONETARY SYSTEM", Studies in Economics and Finance, Vol. 16 No. 1, pp. 64-84. https://doi.org/10.1108/eb028718

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MCB UP Ltd

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