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Alternative Intervention Rules in the Exchange Markets of the European Monetary System

In: Exchange Rate Policy

Author

Listed:
  • Paul Grauwe
  • Paul Bergh

Abstract

In this paper some aspects of the functioning of the European monetary system (EMS) are investigated. Three issues will be analysed. First, the choice of the currency in the intervention policies is studied. In particular the question will be asked what difference it makes to choose between an EMS currency or an external currency (the dollar) for the adjustment mechanism in the national money markets.

Suggested Citation

  • Paul Grauwe & Paul Bergh, 1982. "Alternative Intervention Rules in the Exchange Markets of the European Monetary System," Palgrave Macmillan Books, in: Roy A. Batchelor & Geoffrey E. Wood (ed.), Exchange Rate Policy, chapter 3, pages 101-134, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-16863-7_4
    DOI: 10.1007/978-1-349-16863-7_4
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