La disciplina dello SME ha contribuito alla convergenza dell'inflazione?
DOI:
https://doi.org/10.13133/2037-3651/10986Parole chiave:
EMS, inflation, cross-section comparisonAbstract
The paper focuses on the cross-section comparison of inflation performance inside and outside the EMS. The evidence contained in the literature is first reviews. The author then examines some of the limitations of the analysis contained in the literature and presents new empirical evidence that takes into account some aspects that were previously ignored.
JEL Codes: E31, E52, F15
Riferimenti bibliografici
COLLINS, S. (1988), "Inflation and the European Monetary System", in Giavazzi, Micossi and Miller eds., The European Monetary System, Cambridge University Press, pp. 112-138.
DE GRAUWE, P. (1990), "The cost of disinflation and the EMS", Open Economies Review, no. 1, pp. 147-173.
EICHENGREEN, B. (1993), "A consumer's guide to EMU", Princeton Essays in International Finance.
GIAVAZZI, F. - GIOVANNINI, A. (1988), "The role of the exchange rate regime in a disinflation: empirical evidence on the EMS", in Giavazzi, Micossi and Miller eds., The European Monetary System, Cambridge University Press, pp. 85-110.
GIAVAZZI, F. - PAGANO, M. (1988), "The advantage of tying one's hand: EMS discipline and bank credibility", European Economie Review, no. 32.
GIAVAZZI, F. - SPAVENTA, L. (1989), "Italy: the real effects of inflation and disinflation", Economic Policy, vol. 8, pp. 133-172.
GRESSANI, D. - Guiso, L. - VIsco, I. (1988), "Disinflation in Italy: an analysis with the econometric model of the Banca d'Italia", Journal of Policy Modeling, no. 10, pp. 163-203.
ROGOFF, K. (1985), "Can exchange rate predictability be achieved without monetary convergence? Evidence from the EMS", European Economic Review, no. 28, pp. 93-115.
RUSSO, M. - TULLIO, G. (1988), "Monetary policy coordination within the EMS: is there a rule?", in Giavazzi, Micossi and Miller eds., The European Monetary System, Cambridge University Press, pp. 292-368.
UNGERER, H. et al. (1986), "The European Monetary System: recent developments", IMF, Occasional Paper, no. 48, Washington D.C.
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