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Imported or Home Grown? The 1992-3 EMS Crisis
- Source :
- SSRN Electronic Journal.
- Publication Year :
- 2021
- Publisher :
- Elsevier BV, 2021.
-
Abstract
- Using newly assembled data on foreign exchange market intervention, we construct a daily index of exchange market pressure during the 1992-3 crisis in the European Monetary System, allowing us to pinpoint when and where the crisis was most severe. Our analysis focuses on a neglected factor in the crisis: the role of the weak dollar in intra-EMS tensions. We provide new evidence of the contribution of a falling dollar-Deutschmark exchange rate to pressure on EMS currencies.
- Subjects :
- Economics and Econometrics
History
Polymers and Plastics
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Industrial and Manufacturing Engineering
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bepress|Social and Behavioral Sciences|Economics|Economic History
bepress|Social and Behavioral Sciences
bepress|Social and Behavioral Sciences|Economics|International Economics
SocArXiv|Social and Behavioral Sciences|Economics|Macroeconomics
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Business and International Management
Finance
Subjects
Details
- ISSN :
- 15565068
- Database :
- OpenAIRE
- Journal :
- SSRN Electronic Journal
- Accession number :
- edsair.doi.dedup.....3edab83754e0d0e7d90cfd461fc08568