IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-1-349-11629-4_3.html
   My bibliography  Save this book chapter

The EMS: Lessons from Europe and Perspectives in Europe

In: Prospects for the European Monetary System

Author

Listed:
  • Francesco Giavazzi

Abstract

When the EMS was launched in 1978, the new plan for exchange rate stability in Europe was accepted with much scepticism. Policy-makers were still influenced by the collapse of Bretton Woods, and concentrated on learning how to live with flexible exchange rates. Because economists were also attempting to understand the working of flexible exchange rates, there was no analysis of the EMS until the mid-1980s. Now the situation is quite different. The conventional wisdom is that the EMS has been a success, and the debate in Europe has moved on to the issue of monetary unification and the European central bank. Outside Europe, the reform of the international monetary system is no longer an unfashionable topic: ‘target zones’, and the simple return to fixed exchange rates, have taken centre stage in policy discussions and, to some extent, in economic analysis.1

Suggested Citation

  • Francesco Giavazzi, 1990. "The EMS: Lessons from Europe and Perspectives in Europe," Palgrave Macmillan Books, in: Piero Ferri (ed.), Prospects for the European Monetary System, chapter 3, pages 36-55, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-11629-4_3
    DOI: 10.1007/978-1-349-11629-4_3
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. David Cobham, 1991. "European Monetary Integration: A Survey of Recent Literature," Journal of Common Market Studies, Wiley Blackwell, vol. 29(4), pages 363-383, June.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-1-349-11629-4_3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.