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The Maastricht convergence criteria from a German perspective

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Economic Bulletin

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References

  1. Cf. Deutsche Bundesbank,Devisenkursstatistik (Exchange rate statistics), Mai 1995, Statistical Supplement toMonatsbericht 5, p. 84. The deviation indicator is calculated as the deviation of the daily ECU value of an EMS currency as a % of the maximum possible deviation. It has a number of theoretical weaknesses, which cannot be discussed further here. In particular it provides no indication of the bilateral tensions that are decisive for the convergence criterion. It can however — and should only be required to — “provide information on whether a currency participating in the intervention system is developing significantly differently from the other currencies”. The widening of the intervention bands has meant that the maximum possible deviation has also been increased correspondingly.

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Authors
  1. Fritz Franzmeyer
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Franzmeyer, F. The Maastricht convergence criteria from a German perspective. Economic Bulletin 32, 17–24 (1995). https://doi.org/10.1007/BF02233779

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  • DOI: https://doi.org/10.1007/BF02233779

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