Leader of the pack? German monetary dominance in Europe prior to EMU
作者： J. James Reade , Ulrich Volz
DOI: 10.1016/J.ECONMOD.2010.09.006
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摘要: In this paper, the monetary policy independence of European nations in years before Monetary Union (EMU) is investigated using cointegration techniques. Daily data used to assess pairwise relationships between individual EMU and ‘lead’ nation Germany, hypothesis that Germany was dominant prior EMU. By large our econometric investigations support hypothesis, lead us conclude only lose light union Germany.
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