Abstract
Is complete freedom of capital movements within the European Community compatible with the central objective of the European Monetary System, i.e. a reasonable stability of mutual exchange rates? Or should we be prepared to accept a compromise with regard to either or both of these objectives?
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References
See e.g. Rudiger Dornbusch, ‘Flexible Exchange Rates and Excess Capital Mobility’, Brookings Papers on Economic Activity, 1: 1986, p. 209–226, and his earlier theoretical article ‘Expectations and Exchange Rate Dynamics’ in Journal of Political Economy 1976, vol. 84, no. 6, p. 1161–1176.
See the article by A. Szasz in Economisch-Statistische Berichten, January 28, 1987, pp. 92–96 entitled ‘De ruimte voor rentedaling, geld-markt-rente, wisselkoers en EMS’. (The scope for lower interest rates. Short-term interest rates, exchange rates and the EMS).
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© 1988 Kluwer Academic Publishers, Dordrecht
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Oort, C.J. (1988). Freedom of capital movements in the European Community. In: Eizenga, W., Limburg, E.F., Polak, J.J. (eds) The Quest for National and Global Economic Stability. Financial and Monetary Policy Studies, vol 16. Springer, Dordrecht. https://doi.org/10.1007/978-94-009-1389-9_10
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DOI: https://doi.org/10.1007/978-94-009-1389-9_10
Publisher Name: Springer, Dordrecht
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