Download or read book Evaluating the EMS and EMU Using Stochastic Simulations written by Mr.Paul R. Masson and published by International Monetary Fund. This book was released on 1993-03-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Evaluations of European monetary integration using model simulations have given conflicting results, and the paper attempts to elucidate the reasons for the differences. Several features stand out: how to model realignments; how monetary policy is set for individual countries or for Europe; and how large are risk premium shocks in exchange markets. We quantify the effects of different assumptions relating to these features using MULTIMOD.