Il contributo dell'Ecu alla stabilità dei cambi: un ulteriore commento
<p class="FreeForm">Following recent articles by Jager and de Jong on the one hand, and Sarcinelli on the other, the present work offers additional analysis on the topic of the ECU and exchange-rate stability. The author shows that the effect of the ECU on exchange-rate stability ma...
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Associazione Economia civile
2013-10-01
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doaj-2ac0b31389ad404aabab5d2c226d87e92020-11-24T20:50:54ZitaAssociazione Economia civileMoneta e Credito2037-36512013-10-014216810668Il contributo dell'Ecu alla stabilità dei cambi: un ulteriore commentoF. FORNARI<p class="FreeForm">Following recent articles by Jager and de Jong on the one hand, and Sarcinelli on the other, the present work offers additional analysis on the topic of the ECU and exchange-rate stability. The author shows that the effect of the ECU on exchange-rate stability mainly depends on the presence of arbitrage activity, i.e. the flows of national currencies which the ECU market gives rise to in order to counterbalance an excess demand for Ecus on the Euromarket. When arbitrage is introduced into the analysis, the relationship between the dollar and mark and pound gets worse (so creating instability) whereas the contribution of the ECU to European currencies’ stability remains positive, though reduced.</p><p class="FreeForm"> </p><p class="FreeForm"> <strong>JEL Codes:</strong> F15, F36, E42</p><p class="FreeForm"> </p>http://ojs.uniroma1.it/index.php/monetaecredito/article/view/10884ECU, exchange rate stability |
collection |
DOAJ |
language |
Italian |
format |
Article |
sources |
DOAJ |
author |
F. FORNARI |
spellingShingle |
F. FORNARI Il contributo dell'Ecu alla stabilità dei cambi: un ulteriore commento Moneta e Credito ECU, exchange rate stability |
author_facet |
F. FORNARI |
author_sort |
F. FORNARI |
title |
Il contributo dell'Ecu alla stabilità dei cambi: un ulteriore commento |
title_short |
Il contributo dell'Ecu alla stabilità dei cambi: un ulteriore commento |
title_full |
Il contributo dell'Ecu alla stabilità dei cambi: un ulteriore commento |
title_fullStr |
Il contributo dell'Ecu alla stabilità dei cambi: un ulteriore commento |
title_full_unstemmed |
Il contributo dell'Ecu alla stabilità dei cambi: un ulteriore commento |
title_sort |
il contributo dell'ecu alla stabilità dei cambi: un ulteriore commento |
publisher |
Associazione Economia civile |
series |
Moneta e Credito |
issn |
2037-3651 |
publishDate |
2013-10-01 |
description |
<p class="FreeForm">Following recent articles by Jager and de Jong on the one hand, and Sarcinelli on the other, the present work offers additional analysis on the topic of the ECU and exchange-rate stability. The author shows that the effect of the ECU on exchange-rate stability mainly depends on the presence of arbitrage activity, i.e. the flows of national currencies which the ECU market gives rise to in order to counterbalance an excess demand for Ecus on the Euromarket. When arbitrage is introduced into the analysis, the relationship between the dollar and mark and pound gets worse (so creating instability) whereas the contribution of the ECU to European currencies’ stability remains positive, though reduced.</p><p class="FreeForm"> </p><p class="FreeForm"> <strong>JEL Codes:</strong> F15, F36, E42</p><p class="FreeForm"> </p> |
topic |
ECU, exchange rate stability |
url |
http://ojs.uniroma1.it/index.php/monetaecredito/article/view/10884 |
work_keys_str_mv |
AT ffornari ilcontributodellecuallastabilitadeicambiunulteriorecommento |
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