Currency Bands Target Zones And Cash Limits
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| Author | : Mr.Marcus Miller |
| Publisher | : International Monetary Fund |
| Total Pages | : 42 |
| Release | : 1990-02-01 |
| Genre | : Business & Economics |
| ISBN | : 1451928858 |
Exchange rate behavior is analyzed in the context of a stochastic rational expectations model in which there are random shocks to the price setting mechanism and in which the authorities choose to impose either nominal or real exchange rate bands. Results are compared to those which emerge from a simple monetary model subject to velocity shocks. The effects of a realignment of the Band, and of fiscal policy used in conjunction with monetary policy to defend the band, are also examined.
| Author | : Alex Cukierman |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 1990 |
| Genre | : International economic integration |
| ISBN | : |
| Author | : Marcus Miller |
| Publisher | : |
| Total Pages | : 22 |
| Release | : 1990 |
| Genre | : |
| ISBN | : |
| Author | : Marcus Miller |
| Publisher | : |
| Total Pages | : 32 |
| Release | : 1991 |
| Genre | : |
| ISBN | : |
| Author | : Francisco Delgado |
| Publisher | : |
| Total Pages | : 54 |
| Release | : 1991 |
| Genre | : Foreign exchange administration |
| ISBN | : |
Under different assumptions about the underlying monetary shocks, we study target zones of various widths and the effect they have on variables like the interest differential. The stochastic disturbances assumed are successively a non-zero mean random walk and a mean reverting process. The latter is used to incorporate the "leaning against the wind" policy (intrainarginal intervention) which is prevalent in the EMS.
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 38 |
| Release | : 1990-11-01 |
| Genre | : Business & Economics |
| ISBN | : 1451947003 |
Under the assumption of no arbitrage exchange rate target zone credibility is tested by whether domestic interest rates fall within “rate-of-return bands” between the maximum and minimum home-currency rate of return on a foreign investment absent a devaluation. Under the assumption of uncovered interest rate parity credibility is tested by whether expected future exchange rates fall within the exchange rate band. These tests are applied on data about the Swedish target zone during January 1987-August 1990.
| Author | : Paul Krugman |
| Publisher | : Cambridge University Press |
| Total Pages | : 274 |
| Release | : 1992-10-22 |
| Genre | : Business & Economics |
| ISBN | : 9780521435260 |
This volume examines the intersection between a new analytical approach and a real economic problem.
| Author | : Horst Siebert |
| Publisher | : Routledge |
| Total Pages | : 336 |
| Release | : 2018-04-27 |
| Genre | : Business & Economics |
| ISBN | : 1136714502 |
As globalization continues apace, lines of communications are shortening and the boundaries between nations are becoming increasingly blurred. A global perspective is adopted on an increasing range of issues and this is particularly true of economics - no single nation can truly exist in isolation. The second edition of Horst Siebert's The World Economy treats the world as a single entity, considering issues of a global economy, rather than approaching international economics from the viewpoint of any one country. The key issues that have a affected the world trade system since the turn of the millennium are very much to the fore.
| Author | : Mr.Alessandro Prati |
| Publisher | : International Monetary Fund |
| Total Pages | : 30 |
| Release | : 1998-11-01 |
| Genre | : Business & Economics |
| ISBN | : 1451857373 |
We present a model of a “soft” exchange rate target zone and interpret it as a stylized description of the post-August 1993 ERM. Our central bank targets a moving average of the current and past exchange rates, rather than the exchange rate’s current level, thus allowing the rate to move within wide margins in the short run, but within narrow margins in the long run. For realistic parameters, soft target zones are significantly less vulnerable to speculative attacks than “hard” target zones. These predictions are consistent with the ERM’s experience and the abatement of speculative pressure in European markets since the bands’ widening in 1993.
| Author | : |
| Publisher | : Springer |
| Total Pages | : 7493 |
| Release | : 2016-05-18 |
| Genre | : Law |
| ISBN | : 1349588024 |
The award-winning The New Palgrave Dictionary of Economics, 2nd edition is now available as a dynamic online resource. Consisting of over 1,900 articles written by leading figures in the field including Nobel prize winners, this is the definitive scholarly reference work for a new generation of economists. Regularly updated! This product is a subscription based product.
