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Imported or Home Grown? The 1992-3 EMS Crisis / Barry Eichengreen, Alain Naef.
- Format:
- Book
- Author/Creator:
- Eichengreen, Barry.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w29488.
- NBER working paper series no. w29488
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2021.
- Summary:
- Using newly assembled data on foreign exchange market intervention, we construct a daily index of exchange market pressure during the 1992-3 crisis in the European Monetary System, allowing us to pinpoint when and where the crisis was most severe. Our analysis focuses on a neglected factor in the crisis: the role of the weak dollar in intra-EMS tensions. We provide new evidence of the contribution of a falling dollar-Deutschmark exchange rate to pressure on EMS currencies.
- Notes:
- Print version record
- November 2021.
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