Can the European Monetary System be Copied Outside Europe? Lessons from Ten Years of Monetary Policy Coordination in Europe

Francesco Giavazzi and Alberto Giovannini, International Policy Coordination and Exchange Rate Fluctuations (University of Chicago Press, 1990), chap. 6, https://www.nber.org/books-and-chapters/international-policy-coordination-and-exchange-rate-fluctuations/can-european-monetary-system-be-copied-outside-europe-lessons-ten-years-monetary-policy-coordination.