Show simple item record

dc.contributor.authorARTIS, Michael J.
dc.contributor.authorEHRMANN, Michael
dc.description.abstractThe paper provides SVAR estimates for four open economies: the UK, Canada, Sweden and Denmark, making explicit a monetary policy reaction function and taking account of exchange rate targeting practices. The object of the analysis is to examine the idea that an independent money and exchange rate should allow for effective shock-absorption. A polar extreme would be that exchange markets breed their own, and destabilizing, shocks. The paper’s findings vary from one economy to another: monetary union appears easy to recommend for Sweden and Denmark, much less so for Canada and the UK.en
dc.format.extent3083 bytes
dc.relation.ispartofseriesCEPR Discussion Paperen
dc.titleThe exchange rate - a shock-absorber or source of shocks? : a study of four open economiesen
dc.typeWorking Paperen
dc.neeo.contributorARTIS|Michael J.|aut|

Files associated with this item


There are no files associated with this item.

This item appears in the following Collection(s)

Show simple item record