Asymmetries in the European Monetary System: Evidence from Interest Rates

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Field	Value	Language
dc.contributor.author	Karfakis, C.
dc.contributor.author	Moschos, D.M.
dc.date.accessioned	2011-05-30
dc.date.available	2011-05-30
dc.date.issued	1990-09-01
dc.identifier.isbn	086758386X
dc.identifier.uri	http://hdl.handle.net/2123/7593
dc.description.abstract	This paper tests for asymmetries in the European Monetary System (EMS). The analysis indicates that any asymmetric movements between German and other EMS interest rates originating from changes in the US rate are temporary and tend to be eliminated during subsequent periods through offsetting interest rate adjustments. Furthermore, the trivariate error correction vector autoregression analysis of interest rate relationships among the US, Germany and each of the other EMS countries suggests that German leadership is not an EMS-wide phenomenon, since it is confirmed only with respect to Belgium and France.	en
dc.language.iso	en_AU	en
dc.publisher	Department of Economics	en
dc.relation.ispartofseries	Working Papers in Economics	en
dc.rights	Other
dc.title	Asymmetries in the European Monetary System: Evidence from Interest Rates	en
dc.type	Working Paper	en
usyd.faculty	Faculty of Arts and Social Sciences, School of Economics
usyd.citation.issue	145	en