SFB 303 Discussion Paper No. B - 159

Author: von Hagen, Jürgen
Title: Monetary Policy Coordination in the European Monetary System
Abstract: This article presents an overview of policy coordination in the European Monetary System (EMS). Section II starts with a brief history of the system and describes its main institutions and its basic economic performance. Section III discusses the two major interpretations of the EMS and presents empirical evidence for their relevance. Section IV looks at the question of strategic asymmetries in the EMS. Section V summarizes a few conclusions relating to the future of a European Monetary Union.
Keywords: Monetary policies, International coordination of monetary policies, European monetary system(EMS), Exchange rate stability, Basic economic performance of the EMS
Creation-Date: August 1990
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