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Volume 16, Issue 1
1 January 1995
Studies in Economics and Finance Cover Image for Volume 16, Issue 1
Review Article| January 01 1995

AN EMPIRICAL EXAMINATION OF EXCHANGE RATE STABILITY: CASE STUDY: EUROPEAN MONETARY SYSTEM Available to Purchase

Swarna D. Dutt;
Swarna D. Dutt
Assistant Professor, Department of Economics, School of Business, West Georgia College, Carrollton, GA 30118.
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Dipak Ghosh
Dipak Ghosh
Visiting Assistant Professor, Tulane University, New Orleans, LA 70118.
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Author & Article Information
Publisher: Emerald Publishing
Online ISSN: 1755-6791
Print ISSN: 1086-7376
© MCB UP Limited
1995
Studies in Economics and Finance (1995) 16 (1): 64–84.
https://doi.org/10.1108/eb028718

We examine the stability of exchange rates among the members of the European Monetary System (EMS), using the Johansen‐Juselius multivariate cointegration (systems) analysis. The direct implication from cointegration theory is that exchange rate stability vis a vis EMS member countries has been achieved. This allows us to study the speed of convergence of different currencies towards the equilibrium path.

© MCB UP Limited
1995
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