Imported or Home Grown? The 1992-3 EMS Crisis /
Eichengreen, Barry.
Imported or Home Grown? The 1992-3 EMS Crisis / Barry Eichengreen, Alain Naef. - Cambridge, Mass. National Bureau of Economic Research 2021. - 1 online resource: illustrations (black and white); - NBER working paper series no. w29488 . - Working Paper Series (National Bureau of Economic Research) no. w29488. .
November 2021.
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.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.
Imported or Home Grown? The 1992-3 EMS Crisis / Barry Eichengreen, Alain Naef. - Cambridge, Mass. National Bureau of Economic Research 2021. - 1 online resource: illustrations (black and white); - NBER working paper series no. w29488 . - Working Paper Series (National Bureau of Economic Research) no. w29488. .
November 2021.
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.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.