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On the Viability of Exchange Rate Target Zones in a Mundell-Fleming Model with Stochastic Output Shocks

  • Kempa, Bernd
  • Nelles, Michael

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File URL: http://www.sciencedirect.com/science/article/B6V82-3V5MC0S-3/2/0d9f0ea141b73b9d838ccc077e5d330a
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Article provided by Elsevier in its journal Journal of Policy Modeling.

Volume (Year): 20 (1998)
Issue (Month): 5 (October)
Pages: 603-619

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Handle: RePEc:eee:jpolmo:v:20:y:1998:i:5:p:603-619
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/505735

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  1. Flood, Robert P. & Rose, Andrew K. & Mathieson, Donald J., 1991. "An empirical exploration of exchange-rate target-zones," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 35(1), pages 7-65, January.
  2. Sutherland, Alan, 1994. "Target Zone Models with Price Inertia: Solutions and Testable Implications," Economic Journal, Royal Economic Society, vol. 104(422), pages 96-112, January.
  3. Miller, Marcus & Weller, Paul, 1990. "Exchange Rate Bands with Price Inertia," CEPR Discussion Papers 421, C.E.P.R. Discussion Papers.
  4. Beetsma, R.M.W.J. & van der Ploeg, F., 1993. "Intramarginal interventions, bands and the pattern of EMS exchange rate distributions," Discussion Paper 1993-48, Tilburg University, Center for Economic Research.
  5. Bertola, Giuseppe & Svensson, Lars E O, 1993. "Stochastic Devaluation Risk and the Empirical Fit of Target-Zone Models," Review of Economic Studies, Wiley Blackwell, vol. 60(3), pages 689-712, July.
  6. Lars E.O. Svensson, 1993. "Fixed Exchange Rates as a Means to Price Stability: What Have We Learned," NBER Working Papers 4504, National Bureau of Economic Research, Inc.
  7. Krugman, Paul R, 1991. "Target Zones and Exchange Rate Dynamics," The Quarterly Journal of Economics, MIT Press, vol. 106(3), pages 669-82, August.
  8. Bertola, G. & Cabarello, R.J., 1990. "Target Zones And Realignments," Discussion Papers 1990_51, Columbia University, Department of Economics.
  9. Tristani, Oreste, 1994. " Variable Probability of Realignment in a Target Zone," Scandinavian Journal of Economics, Wiley Blackwell, vol. 96(1), pages 1-14.
  10. Werner, Alejandro M., 1995. "Exchange rate target zones, realignments and the interest rate differential: Theory and evidence," Journal of International Economics, Elsevier, vol. 39(3-4), pages 353-367, November.
  11. Blanchard, Olivier J, 1981. "Output, the Stock Market, and Interest Rates," American Economic Review, American Economic Association, vol. 71(1), pages 132-43, March.
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