Target zones in History and Theory : efficiency, credibility and policy autonomy
Author
Abstract
Suggested Citation
Download full text from publisher
Other versions of this item:
- Marc Flandreau & John Komlos, 2005. "Target zones in History and Theory : efficiency, credibility and policy autonomy," Working Papers hal-01065605, HAL.
References listed on IDEAS
- E.O. Svensson, Lars, 1994.
"Why exchange rate bands? : Monetary independence in spite of fixed exchange rates,"
Journal of Monetary Economics, Elsevier, vol. 33(1), pages 157-199, February.
- Svensson, L.E.O., 1992. "Why Exchange Rate Bands? Monetary Independence in Spite of Fixed Exchange Rates," Papers 521, Stockholm - International Economic Studies.
- Svensson, Lars E O, 1992. "Why Exchange Rate Bands? Monetary Independence in Spite of Fixed Exchange Rates," CEPR Discussion Papers 742, C.E.P.R. Discussion Papers.
- Lars E.O. Svensson, 1992. "Why Exchange Rate Bands? Monetary Independence in Spite of Fixed Exchange Rates," NBER Working Papers 4207, National Bureau of Economic Research, Inc.
- Koppl, Roger & Yeager, Leland B., 1996. "Big Players and Herding in Asset Markets: The Case of the Russian Ruble," Explorations in Economic History, Elsevier, vol. 33(3), pages 367-383, July.
- Svensson, Lars E. O., 1991.
"The term structure of interest rate differentials in a target zone : Theory and Swedish data,"
Journal of Monetary Economics, Elsevier, vol. 28(1), pages 87-116, August.
- Svensson, L.E.O., 1990. "The Term Structure of Interest Rate Differentials in a Target Zone: Theory and Swedish Data," Papers 466, Stockholm - International Economic Studies.
- Lars E.O. Svensson, 1990. "The Term Structure of Interest Rate Differentials in a Target Zone: Theory and Swedish Data," NBER Working Papers 3374, National Bureau of Economic Research, Inc.
- Svensson, Lars E O, 1991. "The Term Structure of Interest Rate Differentials in a Target Zone: Theory and Swedish Data," CEPR Discussion Papers 495, C.E.P.R. Discussion Papers.
- Markus Knell & Helmut Stix, 2004. "Three Decades of Money Demand Studies. Some Differences and Remarkable Similarities," Working Papers 88, Oesterreichische Nationalbank (Austrian Central Bank).
- Lars E. O. Svensson, 1992. "An Interpretation of Recent Research on Exchange Rate Target Zones," Journal of Economic Perspectives, American Economic Association, vol. 6(4), pages 119-144, Fall.
- De Grauwe, Paul, 1996. "International Money: Postwar Trends and Theories," OUP Catalogue, Oxford University Press, edition 2, number 9780198775133.
- Paul Hallwood, C. & MacDonald, Ronald & Marsh, Ian W., 2000. "Realignment expectations and the US dollar, 1890-1897: Was there a 'Peso problem'?," Journal of Monetary Economics, Elsevier, vol. 46(3), pages 605-620, December.
- Frenkel, Jacob A & Levich, Richard M, 1975. "Covered Interest Arbitrage: Unexploited Profits?," Journal of Political Economy, University of Chicago Press, vol. 83(2), pages 325-338, April.
- Lindberg, H. & Soderlind, P., 1991. "Testing the Basic Target Zone Model on Swedish Data," Papers 488, Stockholm - International Economic Studies.
- John Komlos & Marc Flandreau, "undated". "Core or Periphery? The Credibility of the Austro-Hungarian Currency, 1867-1913," Articles by John Komlos 4, Department of Economics, University of Munich.
- Paul R. Krugman, 1991. "Target Zones and Exchange Rate Dynamics," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(3), pages 669-682.
- repec:onb:oenbwp:y::i:88:b:1 is not listed on IDEAS
- Goldman, Elena, 2000. "Testing efficient market hypothesis for the dollar-sterling gold standard exchange rate 1890-1906: MLE with double truncation," Economics Letters, Elsevier, vol. 69(3), pages 253-259, December.
- Fama, Eugene F., 1984. "Forward and spot exchange rates," Journal of Monetary Economics, Elsevier, vol. 14(3), pages 319-338, November.
- Lindberg, Hans & Soderlind, Paul, 1994. "Testing the basic target zone model on Swedish data 1982-1990," European Economic Review, Elsevier, vol. 38(7), pages 1441-1469, August.
- Bayoumi,Tamim & Eichengreen,Barry & Taylor,Mark P. (ed.), 1997. "Modern Perspectives on the Gold Standard," Cambridge Books, Cambridge University Press, number 9780521571692.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Marc Flandreau, 2006.
"The logic of compromise : monetary bargaining in Austria-Hungary 1867-1913,"
Working Papers
hal-01065619, HAL.
- Flandreau, Marc, 2006. "The Logic of Compromise: Monetary bargaining in Austria-Hungary 1867-1913," CEPR Discussion Papers 5397, C.E.P.R. Discussion Papers.
- Marc Flandreau, 2006. "The logic of compromise : monetary bargaining in Austria-Hungary 1867-1913," Sciences Po publications n°5397, Sciences Po.
- Marc Flandreau, 2006. "The logic of compromise : monetary bargaining in Austria-Hungary 1867-1913," Sciences Po publications info:hdl:2441/604, Sciences Po.
- repec:hal:wpspec:info:hdl:2441/603 is not listed on IDEAS
- repec:hal:spmain:info:hdl:2441/603 is not listed on IDEAS
- repec:hal:spmain:info:hdl:2441/604 is not listed on IDEAS
- repec:spo:wpecon:info:hdl:2441/603 is not listed on IDEAS
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- repec:hal:spmain:info:hdl:2441/602 is not listed on IDEAS
- repec:hal:wpspec:info:hdl:2441/602 is not listed on IDEAS
- repec:spo:wpecon:info:hdl:2441/602 is not listed on IDEAS
- Flandreau, Marc & Komlos, John, 2006.
"Target zones in theory and history: Credibility, efficiency, and policy autonomy,"
Journal of Monetary Economics, Elsevier, vol. 53(8), pages 1979-1995, November.
- Flandreau, Marc & Komlos, John, 2005. "Target Zones in Theory and History: Credibility, Efficiency, and Policy Autonomy," CEPR Discussion Papers 5199, C.E.P.R. Discussion Papers.
- Jess Rodr?uez L?ez & Hugo Rodr?uez Mendiz?al, 2002.
"On the Choice of an Exchange Rate Regime: Target Zones Revisited,"
UFAE and IAE Working Papers
518.02, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Jesús Rodríguez López & Hugo Rodríguez Mendizábal, 2003. "On the Choice of an Exchange Rate Regime: Target Zones Revisited," Working Papers 87, Barcelona School of Economics.
- Marc Flandreau & John Komlos, 2003.
"Target Zones in History and Theory : Lessons from an Austro-Hungarian Experiment, 1896-1914,"
Sciences Po publications
n°2003-18, Sciences Po.
- Flandreau, Marc & Komlos, John, 2003. "Target Zones in History and Theory: Lessons from an Austro-Hungarian Experiment (1896-1914)," Discussion Papers in Economics 75, University of Munich, Department of Economics.
- Marc Flandreau & John Komlos, 2003. "Target Zones in History and Theory : Lessons from an Austro-Hungarian Experiment, 1896-1914," Working Papers hal-01065060, HAL.
- repec:hal:spmain:info:hdl:2441/325 is not listed on IDEAS
- repec:hal:wpspec:info:hdl:2441/325 is not listed on IDEAS
- repec:spo:wpecon:info:hdl:2441/325 is not listed on IDEAS
- Peter P. Carr & Zura Kakushadze, 2017.
"FX options in target zones,"
Quantitative Finance, Taylor & Francis Journals, vol. 17(10), pages 1477-1486, October.
- Peter Carr & Zura Kakushadze, 2015. "FX Options in Target Zone," Papers 1512.01527, arXiv.org, revised Jul 2016.
- Darvas, Zsolt, 1999. "Az árfolyamsávok empirikus modelljei és a devizaárfolyam sávon belüli előrejelezhetetlensége [Empirical models of exchange rate target zones]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(6), pages 507-529.
- Marc Flandreau & John Komlos, 2001.
"How to Run a Target Zone? Age Old Lessons from an Austro-Hungarian Experiment,"
CESifo Working Paper Series
556, CESifo.
- Marc Flandreau & John Komlos, 2001. "How to Run a Target Zone ? Age Old Lessons from an Austro-Hungarian Experiment," Working Papers hal-01064999, HAL.
- Marc Flandreau & John Komlos, 2001. "How to Run a Target Zone ? Age Old Lessons from an Austro-Hungarian Experiment," Sciences Po publications n°556, Sciences Po.
- Mundaca, Gabriela & Oksendal, Bernt, 1998. "Optimal stochastic intervention control with application to the exchange rate," Journal of Mathematical Economics, Elsevier, vol. 29(2), pages 225-243, March.
- Wilfling Bernd, 2003.
"Interest Rate Volatility Prior to Monetary Union under Alternative Pre-Switch Regimes,"
German Economic Review, De Gruyter, vol. 4(4), pages 433-457, December.
- Bernd Wilfling, 2003. "Interest Rate Volatility Prior to Monetary Union under Alternative Pre‐Switch Regimes," German Economic Review, Verein für Socialpolitik, vol. 4(4), pages 433-457, November.
- Wilfling, Bernd, 2001. "Interest rate volatility prior to monetary union under alternative pre-switch regimes," HWWA Discussion Papers 143, Hamburg Institute of International Economics (HWWA).
- Wilfling, Bernd, 2001. "Interest Rate Volatility Prior to Monetary Union Under Alternative Pre-Switch Regimes," Discussion Paper Series 26277, Hamburg Institute of International Economics.
- Mundaca, Gabriela, 2003. "A Drift of the "Drift Adjustment Method"," Memorandum 16/2002, Oslo University, Department of Economics.
- António Portugal Duarte & João Sousa Andrade & Adelaide Duarte, 2012.
"Is There a Trade-off between Exchange Rate and Interest Rate Volatility? Evidence from an M-GARCH Model,"
International Journal of Economic Sciences, Prague University of Economics and Business, vol. 2012(1), pages 19-37.
- António Portugal Duarte & João Sousa Andrade & Adelaide Duarte, 2015. "Is There a Trade-off between Exchange Rate and Interest Rate Volatility? Evidence from an M-GARCH Model," GEMF Working Papers 2015-01, GEMF, Faculty of Economics, University of Coimbra.
- Elias D. Belessakos & Christos I. Giannikos, 2002. "The "Lack" of Volatility Trade-Offs in Exchange Rate Zones with Sticky Prices," International Journal of Business and Economics, School of Management Development, Feng Chia University, Taichung, Taiwan, vol. 1(1), pages 69-78, April.
- António Portugal Duarte & João Sousa Andrade & Adelaide Duarte, 2013.
"Exchange Rate Target Zones: A Survey Of The Literature,"
Journal of Economic Surveys, Wiley Blackwell, vol. 27(2), pages 247-268, April.
- António Portugal Duarte & João Sousa Andrade & Adelaide Duarte, 2010. "Exchange Rate Target Zones: A Survey of the Literature," GEMF Working Papers 2010-14, GEMF, Faculty of Economics, University of Coimbra.
- Joao Sousa Andrade & António Portugal Duarte & Adelaide Duarte, 2013.
"Testing for Nonlinear Adjustment in the Portuguese Target Zone: Is there a Honeymoon Effect?,"
EcoMod2013
5305, EcoMod.
- António Portugal Duarte & João Sousa Andrade & Adelaide Duarte, 2013. "Testing for Nonlinear Adjustment in the Portuguese Target Zone: Is there a Honeymoon Effect?," GEMF Working Papers 2013-03, GEMF, Faculty of Economics, University of Coimbra.
- Dumas, Bernard & Peter Jennergren, L. & Naslund, Bertil, 1995.
"Realignment risk and currency option pricing in target zones,"
European Economic Review, Elsevier, vol. 39(8), pages 1523-1544, October.
- Bernard Dumas & Lars Peter Jennergren & Bertil Näslund, 1992. "Realignment risk and currency option pricing in target zones," Working Papers hal-00611598, HAL.
- Bernard Dumas & Peter Jennergren & Bertil Näslund, 1993. "Realignment risk and currency option pricing in target zones," Working Papers hal-00610767, HAL.
- Bernard Dumas & L. Peter Jennergren & Bertil Naslund, 1993. "Realignment Risk and Currency Option Pricing in Target Zones," NBER Working Papers 4458, National Bureau of Economic Research, Inc.
- repec:hal:spmain:info:hdl:2441/323 is not listed on IDEAS
- António Portugal Duarte & João Sousa Andrade & Adelaide Duarte, 2010. "Exchange Rate and Interest Rate Distribution and Volatility under the Portuguese Target Zone," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 57(3), pages 261-282, September.
- Jesús Rodríguez López & Hugo Rodríguez Mendizábal, 2007.
"The Optimal Degree of Exchange Rate Flexibility: a Target Zone Approach,"
Review of International Economics, Wiley Blackwell, vol. 15(4), pages 803-822, September.
- Jesús Rodríguez López & Hugo Rodríguez Mendizábal, 2006. "The optimal degree of exchange rate flexibility: A target zone approach," Working Papers 06.22, Universidad Pablo de Olavide, Department of Economics.
- António Portugal Duarte & João Sousa Andrade & Adelaide Duarte, 2008. "Exchange Rate and Interest Rate Volatility in a Target Zone: The Portuguese Case," GEMF Working Papers 2008-03, GEMF, Faculty of Economics, University of Coimbra.
- Jesús Rodríguez López & Hugo Rodríguez Mendizábal, 2002. "On the Choice of an Exchange Regime: Target Zones Revisited," Economic Working Papers at Centro de Estudios Andaluces E2002/10, Centro de Estudios Andaluces.
- Lera, Sandro Claudio & Sornette, Didier, 2016. "Quantitative modelling of the EUR/CHF exchange rate during the target zone regime of September 2011 to January 2015," Journal of International Money and Finance, Elsevier, vol. 63(C), pages 28-47.
- Cúrdia, Vasco & Finocchiaro, Daria, 2013.
"Monetary regime change and business cycles,"
Journal of Economic Dynamics and Control, Elsevier, vol. 37(4), pages 756-773.
- Vasco Curdia & Daria Finocchiaro, 2007. "Monetary regime change and business cycles," Staff Reports 294, Federal Reserve Bank of New York.
- Vasco Curdia & Daria Finocchiaro, 2012. "Monetary Regime Change and Business Cycles," Working Paper Series 2013-02, Federal Reserve Bank of San Francisco.
- Cúrdia, Vasco & Finocchiaro, Daria, 2010. "Monetary Regime Change and Business Cycles," Working Paper Series 241, Sveriges Riksbank (Central Bank of Sweden).
More about this item
Keywords
target zone; market efficiency; monetary policy; covered interest parity;All these keywords.
JEL classification:
- F31 - International Economics - - International Finance - - - Foreign Exchange
- N32 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - U.S.; Canada: 1913-
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spo:wpmain:info:hdl:2441/602. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Spire @ Sciences Po Library (email available below). General contact details of provider: https://edirc.repec.org/data/ecspofr.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.