01635cas a2200241 a 4500 AALejournalIMF010154 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451927559 1018-5941 BD-DhAAL BD-DhAAL International Monetary Fund. Monetary Policy Interaction within the EMS. Washington, D.C. : International Monetary Fund, 1989. 1 online resource (40 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students A simple two-country stochastic model is used to analyze monetary policy interaction in a system of exchange rate bands such as the EMS, in the context of internationally-integrated financial markets. We consider the widely-acknowledged asymmetry of the system, as it pertains to member countries' use of monetary policy to offset shocks that impinge on their national incomes. Our results suggest, among other things, that tightening the exchange-rate bands would lead to more intervention by all members, even if formal responsibility for keeping exchange rates within the bands lay only with the peripheral countries. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1989/008 Full text available on IMF http://elibrary.imf.org/view/journals/001/1989/008/001.1989.issue-008-en.xml IMF e-Library