Target Zones And Realignments
Abstract
Recent contribution emphasize that the presence of exchange rate target zones has important effects on the within-band behaviour of exchange rates. We show that the implications of available models are strikingly inconsistent with European Monetary System data, and we propose a model of recurring realignments the predictions of which are consistent with the evidence.(This abstract was borrowed from another version of this item.)
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Paper provided by Columbia University, Department of Economics in its series Discussion Papers with number 1990_51.
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Length: 16 pages
Date of creation: 1990
Date of revision:
Handle: RePEc:clu:wpaper:1990_51
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Related research
Keywords: exchange rate ; monetary policy;Other versions of this item:
- Bertola, Giuseppe & Caballero, Ricardo J, 1992. "Target Zones and Realignments," American Economic Review, American Economic Association, vol. 82(3), pages 520-36, June.
- Bertola, Giuseppe & Caballero, Ricardo, 1990. "Target Zones and Realignments," CEPR Discussion Papers 398, C.E.P.R. Discussion Papers.
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