An Empirical Exploration of Exchange Rate Target-Zones:

In the context of a flexible-price monetary exchange rate model and the assumption of uncovered interest parity, we obtain a measure of the fundamental determinant of exchange rates. Daily data for the European Monetary System are used to explore the importance of nonlinearities in the relationship...

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1. Verfasser: Mathieson, Donald J. (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Washington, D.C International Monetary Fund 1991
Schriftenreihe:IMF Working Papers Working Paper No. 91/15
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Zusammenfassung:In the context of a flexible-price monetary exchange rate model and the assumption of uncovered interest parity, we obtain a measure of the fundamental determinant of exchange rates. Daily data for the European Monetary System are used to explore the importance of nonlinearities in the relationship between the exchange rates and fundamentals. Many implications of existing "target-zone" exchange rate models are tested; little support is found for existing nonlinear models of limited exchange rate flexibility
Beschreibung:1 Online-Ressource (73 p)
ISBN:145184316X
9781451843163

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