International Business Cycles and the ERM: Is there a European Business Cycle?
International Business Cycles and the ERM: Is there a European Business Cycle?
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国际经济周期和企业风险管理：是否存在欧洲经济周期？
DOI：
10.1002/(sici)1099-1158(199701)2:1
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发表时间：
1997
影响因子：
2.9
通讯作者：
Wenda Zhang
中科院分区：
文献类型：
--
作者：
M. Artis;Wenda Zhang
成功的固定汇率制度实行的政策纪律可能导致参与国商业周期的一致性。这一猜想在本文件中得到了证实的证据表明，企业风险管理成员国的商业周期从属关系已从美国转移到德国，因为形成的企业风险管理。欧洲国家之间贸易和金融联系的不断加强了这种影响。英国是其中引人注目的是，其商业周期的联系没有改变，在研究期间。版权所有@1997年由约翰威利父子有限公司保留所有权利。
Successful fixed exchange rate regimes impose policy disciplines that are likely to lead to conformity in the business cycles of the participating countries. This conjecture is borne out in the present paper by the evidence that the business cycle affiliation of ERM member countries has shifted from the United States to Germany since the formation of the ERM. This effect is bolstered by growing links in trade and finance between the European countries. The United Kingdom is conspicuous among these in that its business cycle affiliation did not change in the period of study. Copyright @ 1997 by John Wiley & Sons, Ltd. All rights reserved.