Abstract
There is a kind of paradox about the favour accorded by economists to the EMS. At the inception of the European monetary experiment, a deep scepticism was the rule. Seven years later, the success of the EMS is generally acclaimed, not only in Europe but all around the world. Occasionally, someone even proposes to generalise the system to the whole world economy and to develop a “World EMS System” with a “target zone” mechanism derived in fact from that in Europe.
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© 1988 Wiener Institut für Internationale Wirtschaftsvergleiche (WIIW) (The Vienna Institute for Comparative Economic Studies)
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Bourguinat, H. (1988). The European Monetary System (Ems): First Lessons and New Challenges. In: Saunders, C.T. (eds) Macroeconomic Management and the Enterprise in East and West. The Vienna Institute for Comparative Economic Studies. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-08375-6_10
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DOI: https://doi.org/10.1007/978-1-349-08375-6_10
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