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AALejournalIMF007787 |
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|c 5.00 USD
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|z 9781451921045
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a International Monetary Fund.
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|a Economic and Monetary Integration and the Aggregate Demand for Money in the EMS.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1990.
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| 300 |
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|a 1 online resource (46 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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| 500 |
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This study shows that the aggregate demand for M1 in the group of countries participating in the Exchange Rate Mechanism (ERM) of the European Monetary System can be expressed as a stable function of ERM-wide income, inflation, interest rates, and the exchange rate of the European Currency Unit (ECU) vis-a-vis the U.S. dollar. A notable feature of the model is the rapid elimination of monetary disequilibria, in contrast with most single-country estimates which tend to find implausibly slow adjustment. These results are suggestive: if robust, they would indicate that, even at the present stage of economic and monetary integration, a European central bank could, in principle, implement monetary control more effectively than the individual national central banks.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 1990/023
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1990/023/001.1990.issue-023-en.xml
|z IMF e-Library
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