Year: 1994
Author: Jordan, Thomas J.
Credit and Capital Markets – Kredit und Kapital, Vol. 27 (1994), Iss. 4 : pp. 518–535
Abstract
Real Exchange Rates within Switzerland and between Switzerland and Three Neighbouring Countries
Common argumentation stipulates that minimal variability and persistence in real exchange rate fluctuations within the participating areas should be a distinguishing feature of any currency union. This paper examines the variability and the persistence of real exchange rate fluctuations both within Switzerland and between Switzerland and three neighbouring countries. Real exchange rates vary only minimally between the various regions except for the area of North-Western Switzerland. These fluctuations are instead characterized by considerable persistence. This analysis shows that a currency union is quite capable of coping with both differing variabilities in real exchange rates between the areas involved and persistent real exchange rate fluctuations, including sizeable accumulated changes in real exchange rates.
Journal Article Details
Publisher Name: Global Science Press
Language: Multiple languages
DOI: https://doi.org/10.3790/ccm.27.4.518
Credit and Capital Markets – Kredit und Kapital, Vol. 27 (1994), Iss. 4 : pp. 518–535
Published online: 1994-04
AMS Subject Headings: Duncker & Humblot
Copyright: COPYRIGHT: © Global Science Press
Pages: 18
Author Details
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