CONTENTS
List of Tables = ⅶ
List of Figures = ⅹ
Notes on the Contributors = xii
Foreword / Pavlos Karadeloglou = xix
Introduction : The Evolution towards European Monetary Union / Robert Raymond = 1
Part Ⅰ Econometric Aspects of Exchange Rate Determination in Europe
1. Are Dollar Exchange Rates Cointegrated After All? / Eric Girardin ; Velayoudom Marimoutou = 7
2. Modelling Exchange Rate Using MARS / Jan de Gooijer ; Horst Kr a ·· ger = 24
3. Sterling's Relationship with the Deutschmark : A Probabilistic Reduction Approach / Guglielmo Maria Caporale ; Nikitas Pittis = 45
4. Purchasing Power Parity and Cointegration : The Case of Greek Exchange Rates / George B. Hondroyiannis ; Evangetia Papapetrou = 60
Part Ⅱ EMS and Exchange Rate Policy
5. German Interest Rates and the European Monetary System / Peter J.G. Vlaar = 83
6. Currency Substitution and Exchange Rate Policy within the European Union / Eric J. Pentecost = 110
7. Budgetary Implications of a European Central Bank - A Purely Strateglic Perspective / Bas van Aarle ; A. Lans Bovenberg ; Matthias G. Raith = 132
Part Ⅲ Intervention on European Exchange Rate Markets
8. Target Zones : Testing the Intervention Mechanism for the European Currencies / Pavlos Karadeloglou ; Christos Papazoglou = 155
9. Modelling the Behaviour of Exchange Rates in the EMS / Ashok Parikh ; Costas Karfakis = 171
10. Intervention Policy in the Foreign Exchange Market : A Tale of Dissidents and Conformists / Andr e ´ Cartapanis ; Pierre Laurent = 203
Index = 229
