Interest Rate Linkages Within the European Monetary System: Further Analysis
在Karfakis和Moschos（1990）研究基础上，加入美国利率重新检验欧洲货币体系内的利率联动关系，发现美国和德国利率均发挥重要作用，但均非主导。
J. Costas Karfakis and Demetrios M. Moschos (1990) examine the interest rate linkages within the European Monetary System (EMS), concluding that the German interest rate plays a dominate role within the EMS. The authors reexamine the interest rate linkages within the EMS with the addition of the interest rate of the United States. Their results suggest that both the United States and German interest rates play an important, but not dominant, role in EMS interest rate linkages. Copyright 1993 by Ohio State University Press.