The Forex Regime and EMU Expansion

Abstract

This paper provides empirical evidence that, irrespective of the foreign exchange rate regime, countries with high monetary volatility have lower relative output growth rates. It is argued that due to the forward looking nature of the foreign exchange market, exchange rate stability hinges on the stability of the institutional structure within which… (More)

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Cite this paper

@inproceedings{Foreest2002TheFR, title={The Forex Regime and EMU Expansion}, author={Pieter W. van Foreest and Casper G. de Vries and Lucio Vinhas}, year={2002} }