Financial Markets and Exchange-rate Regimes in Transition to EMU

Author (Person)
Series Title
Series Details Vol.44, No.3, May-June 2009, p142-148
Publication Date May 2009
ISSN 0020-5346
Content Type

This paper highlights that the EMU transition process itself can pose challenges to individual accession countries and draws policy implications for ERM II. Differences in financial market developments and international liabilities underscore the risks and benefits of ERM II, and may lead to conflict between short and long-term policy objectives.

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