Bajo Rubio, ÓscarMontávez Garcés, María Dolores2016-05-102016-05-101999https://academica-e.unavarra.es/handle/2454/20573In this paper we re-examine the German dominance hypothesis, as a way to assess whether the loss of monetary autonomy in Europe associated with EMU had been significant. We use Granger-causality tests between the interest rates of Germany and all the countries participating at any time in the European Monetary System, with the sample period running until December 1998. Our results would support a weak version of the hypothesis, with Germany playing a certain “leadership” or special role in the EMS, although she would not had been strictly the “dominant” player.23 p.application/pdfengCC Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)European monetary unionGerman dominance hypothesisGranger-causalityDocumento de trabajo / Lan gaiakAcceso abierto / Sarbide irekiainfo:eu-repo/semantics/openAccess