Credibility. Capital Controls, and the EMS.
A common rationale for EMS membership is that it enhances the credibility of a central bank's commitment to stable monetary growth. In this paper we consider this idea in the light of two features of the system, namely, the existence of exchange rate bands and the prevalence of capital controls...
| Соавтор: | |
|---|---|
| Формат: | Журнал |
| Язык: | English |
| Опубликовано: |
Washington, D.C. :
International Monetary Fund,
1989.
|
| Серии: | IMF Working Papers; Working Paper ;
No. 1989/009 |
| Online-ссылка: | Full text available on IMF |