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%T Estimating the degree of interventionist policies in the run-up to EMU %A Sondermann, David %A Trede, Mark %A Wilfling, Bernd %J Applied Economics %N 2 %P 207-218 %V 43 %D 2009 %K Exchange rates; EMU; continuous-time modeling; sequential estimation; institutional frontloading %= 2011-05-11T15:26:00Z %~ http://www.peerproject.eu/ %> https://nbn-resolving.org/urn:nbn:de:0168-ssoar-243024 %X Based on a theoretical monetary exchange-rate model in continuous time this paper establishes a sequential estimation framework which is capable of indicating central bank intervention in the run-up to a currency union. Using daily pre-EMU exchange-rate data for the countries of the current euro zone, we find mixed evidence of active pre-EMU intervention policies (so-called institutional frontloading strategies). Our estimation framework is highly relevant to economic and political agents operating in financial markets of the upcoming EMU accession countries. %C USA %G en %9 journal article %W GESIS - http://www.gesis.org %~ SSOAR - http://www.ssoar.info