The Role of the Exchange Rate in Monetary Policy - the Experience of Other Countries

@inproceedings{Artis1993TheRO,
  title={The Role of the Exchange Rate in Monetary Policy - the Experience of Other Countries},
  author={Michael J. Artis},
  year={1993}
}
In the past 15 years we have seen two significant episodes of exchange rate targeting, each very different in character and in their proximate objectives. One is the phase of exchange rate targeting inaugurated by the Plaza Accord in September 1985; the other is the system of exchange rate targeting inaugurated by the establishment of the European Monetary System (EMS) in 1979. The former had as its proximate objective the correction of a substantial misalignment – that is, it had a real… CONTINUE READING

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