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SUBSTITUTION MONETAIRE [1 record]

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Record 1 1992-05-13

English

Subject field(s)
  • Currency and Foreign Exchange
CONT

The paper maintains that aggregation may capture the effects of currency substitution arising from the increasing economic and monetary integration within the EC [European Community] in general and the ERM [exchange rate mechanism]in particular. To the extent, for example, that Italian citizens and companies are holding German money, and vice vera, and may shift back and forth between these moneys in response to variables that are not included in a conventional money-demand equation, the total demand of Europeans for European money may be more stable ...

French

Domaine(s)
  • Politique monétaire et marché des changes

Spanish

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