1990
DOI: 10.1111/j.1468-5965.1990.tb00380.x
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Does Germany Dominate the EMS?

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Cited by 35 publications
(5 citation statements)
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“…Indeed, during the 1970s and 1980s it was common to describe the European monetary regime as being dominated by Germany. Much was written on the asymmetry in the European Monetary System (EMS) of the 1980s, the ability of the German authorities to set their monetary policy independently from other member states, and the tendency of the latter to follow the German policy (see for example, Smeets 1990; De Grauwe 1991; Herz and Roger 1992; Congdon 1993; Fratianni and Von Hagen 1993; Bajo‐Rubio and Montáves‐Garcés 2002). It can also be argued that the rules of EMU reflect German views and interests (Dyson 1994).…”
Section: Eu‐level Explanations Of Emumentioning
confidence: 99%
“…Indeed, during the 1970s and 1980s it was common to describe the European monetary regime as being dominated by Germany. Much was written on the asymmetry in the European Monetary System (EMS) of the 1980s, the ability of the German authorities to set their monetary policy independently from other member states, and the tendency of the latter to follow the German policy (see for example, Smeets 1990; De Grauwe 1991; Herz and Roger 1992; Congdon 1993; Fratianni and Von Hagen 1993; Bajo‐Rubio and Montáves‐Garcés 2002). It can also be argued that the rules of EMU reflect German views and interests (Dyson 1994).…”
Section: Eu‐level Explanations Of Emumentioning
confidence: 99%
“…**OECD Economic Ourlook39, May 1986, p. 66. Smeets (1990) analyses interest rates over the life of the EMS and concludes that Germany does play a leading role, but is not 'dominant'.…”
Section: The Hegemonic Leadership Modelmentioning
confidence: 99%
“…Another version of this argument is given by the weak form of the GDH. In this version a feedback among EMS countries is allowed but Germany continues playing a prominent role [Smeets (1990), Von Hagen and Frantianni (1990)]. Other authors, however, have argued that while Germany does not play a dominant and independent role within the EMS, the US interest rate has important causal influences on the EMS members' rate in addition to the German rate [Katsimbris and Miller, 1993), Artus et al (1991) and Hassapis et al (1999)].…”
Section: Introductionmentioning
confidence: 99%