Working Paper: The Danish Problem

Working Paper – February 2023 – No. 192

Authors Eichengreen, Barry (University of California, Berkeley)
Subject Foreign-exchange policy; Fixed-exchange-rate policy; Monetary- and foreign-exchange
Type Working paper
Year 2022
Published 21 February 2023
Abstract icon Danmarks Nationalbank has been able to maintain the krone’s peg to the euro since the euro came into existence in 1999, and the krone’s peg to the Deutschmark and SDR for 17 years before that. This paper considers a series of hypotheses that may help to account for the exceptional nature of this case.