The first two years of the EMS: the exchange-rate experience. A comment

Authors

  • P. KORTEWEG

DOI:

https://doi.org/10.13133/2037-3643/10734

Keywords:

EMS, fixed nominal exchange rates, distortions

Abstract

In this brief note, the author argues that the emphasis on fixed nominal exchange rates inside the EMS creates severe distortions as long as inflation rates are not converging.

 

JEL: E42, F36

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Published

2013-10-11

How to Cite

KORTEWEG, P. (2013). The first two years of the EMS: the exchange-rate experience. A comment. PSL Quarterly Review, 34(138). https://doi.org/10.13133/2037-3643/10734

Issue

Vol. 34 No. 138 (1981)

Section

Editorial

License

 
 
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