Credibility and Disinflation in the European Monetary System
Bibliographic Data
| ID | 9717472 |
|---|---|
| Authors | Michael Bleaney (0000-0003-0588-1700, University of Nottingham), Paul Mizen (0000-0002-6193-0872, University of Nottingham) |
| Year | 1997 |
| Volume | 107 |
| Issue | 445 |
| Pages | 1751-1767 |
| Publication date | 1997-11-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/j.1468-0297.1997.tb00079.x |
| OpenAlex | W2119311189 |
| Language | EN |
| Citations received | 1 |
| References cited | 18 |
Analysis of interest differentials in the European Monetary System has suggested a widespread lack of credibility of the Exchange Rate Mechanism in the sense that in most countries the implicit expected rate of devaluation was significant and not far short of inflation differentials vis‐à‐vis the deutschmark. We present and test a model in which prices reflect expectations of exchange rate behaviour. The results provide mixed evidence that price‐setting in countries which participated in the ERM was influenced by the exchange rate discipline
Credibility · Devaluation · Disinflation · Economics · European Monetary System · Exchange rate · Inflation (cosmology · Monetary economics · Economic Policies and Impacts · Global Financial Crisis and Policies · Monetary Policy and Economic Impact
| Unique citing works | 1 |
|---|---|
| Citations per year | 0,05 |
| Citation span | 2004 - 2004 (1) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 1 |