Citation

Discussion Paper Details

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Title: Monetary Policies in the EMS: Lessons from the Great Recession of 1991-3

Author(s): Paul De Grauwe

Publication Date: October 1994

Keyword(s): EMS, Monetary Policy and Recession

Programme Area(s): International Macroeconomics

Abstract: This paper analyses the nature of the monetary policies in the EMS during the most recent recession. It shows that these monetary policies were very restrictive in an historical perpective, and identifies the characteristics of the workings of the EMS responsible for these monetary policies.

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Bibliographic Reference

De Grauwe, P. 1994. 'Monetary Policies in the EMS: Lessons from the Great Recession of 1991-3'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=1047