Hidden Bibliographic Details
| Other authors / contributors: | Taylor, Mark P., 1958- author.
International Monetary Fund. Research Department, issuing body.
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| ISBN: | 128160173X
9781281601735
1462375227
9781462375226
1455222240
9781455222247
9786613782427
6613782424
1455250384
9781455250387
9781451848854
1451848854
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| Notes: | Includes bibliographical references (pages 24-26).
Restrictions unspecified
Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | Annotation This paper applies nonparametric test procedures to test for a shift in the volatility of nominal and real exchange rates for ERM members and nonmembers. the results imply a reduction in volatility for the ERM members, especially during the second half of the period of operation of the ERM. We also demonstrate that this enhanced stability was not bought at the expense of increased interest rate volatility. the issue of interest rate volatility during sterlings participation in the ERM is also examined.
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| Other form: | Print version: Artis, Michael J. Stabilizing effect of the ERM on exchange rates and interest rates. [Washington, D.C.] : International Monetary Fund, ©1993
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