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The presence of target zone nonlinearities when narrower bands exist within official zones

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  • Dirk Veestraeten

Abstract

The presence of target zone nonlinearities is generally refuted in empirical research. We argue that this may be due to estimation being performed vis-a-vis official limits when monetary authorities are in fact targeting a narrower band. Estimation results for the Belgian and French franc confirm that nonlinearities are present when narrower zones are accounted for.

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  • Dirk Veestraeten, 2007. "The presence of target zone nonlinearities when narrower bands exist within official zones," Applied Economics, Taylor & Francis Journals, vol. 39(4), pages 449-452.
    • Handle: RePEc:taf:applec:v:39:y:2007:i:4:p:449-452
    DOI: 10.1080/00036840500428104
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    Cited by:

    1. Hertrich Markus, 2016. "The Costs of Implementing a Unilateral One-Sided Exchange Rate Target Zone," Review of Economics, De Gruyter, vol. 67(1), pages 91-120, May.

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