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Exchange Rate Mechanism |
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Exchange Rate MechanismA system that was operated by some central banks within the European Union, which intervened in exchange markets to limit the fluctuations of their currencies relative to one another, while letting all of them collectively float.Exchange Rate MechanismThe mechanism by which members of the EC formerly operated their currency exchange rates within given upper and lower limits. In January 1999 certain members of the EC adopted the euro for their currency.Similar MatchesDispute settlement mechanismDispute settlement mechanismThe procedure by which the WTO settles disputes among members, primarily by means of a three-person panel that hears the case and issues a report, subject to review by the Appellate Body. Exchange Rate Mechanism (ERM)Exchange Rate Mechanism (ERM)The methodology by which members of the EMS maintain their currency EMS within an agreed-upon range with respect to other member countries. Adjustment mechanismAdjustment mechanismThe theoretical process by which a market changes in disequilibrium moving toward equilibrium if the process is stable. See Walrasian and Marshallian adjustment. European exchange rate mechanism (ERM)European exchange rate mechanism (ERM)The system that countries in the European Union once used to pay exchange rates within bands around an ERM central value. Trade Policy Review MechanismTrade Policy Review MechanismThe periodic review of the trade policies and practices of the member countries of the WTO, conducted and published by the WTO. Further SuggestionsBalance of payments adjustment mechanismPrice specie flow mechanism Price specie flow mechanism Specie flow mechanism |
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