Abstract
This paper studies the entry of Greece into the European Monetary System (EMS) under two alternative methodologies. The first, dealing with the necessary conditions of a possible entry of a country into the EMS, provides a series of processes in obtaining estimates of economic variables that would have been consistent with exchange-rate stability as discussed by Korteweg (1980). However this approach does not differentiate the economies which participate in a monetary union according to their structural characteristics.
This is part of a research project on ‘Greece and the EMS’ financed by the Economic Research Center, The Athens School of Economics and Business. Special thanks should be expressed to my former graduate students Sophia Lazaretou, P. Kapopoulos and Z. Psaradakis for their research assistance and valuable suggestions.
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References
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© 1992 International Economic Association
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Demopoulos, G.D. (1992). Financial Liberalisation, the EMS and the Consequences for Greek Macroeconomic Policy. In: Skouras, T.S. (eds) Issues in Contemporary Economics. International Economic Association Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-11955-4_7
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DOI: https://doi.org/10.1007/978-1-349-11955-4_7
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