The Credibility of the United Kingdom's Commitment to the Erm : Intentions Versus Actions

Intentions Versus Actions

The Credibility of the United Kingdom's Commitment to the Erm : Intentions Versus Actions
The paper presents estimates of a model of the credibility of the U.K. commitment to its central parity against the deutsche mark during the period of U.K. ERM membership (1990-92). The measure of credibility used is the long-term interest differential with Germany. Credibility is decomposed into two aspects: an assessment of whether the... READ MORE...

Publication date: December 1994
ISBN 9781451856682
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