Exchange Rate Targets And Currency Bands
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Exchange Rate Targets And Currency Bands
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Author : Paul Krugman
language : en
Publisher: Cambridge University Press
Release Date : 1992-10-22
Exchange Rate Targets And Currency Bands written by Paul Krugman and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992-10-22 with Business & Economics categories.
This volume examines the intersection between a new analytical approach and a real economic problem.
Currency Bands Target Zones And Cash Limits
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Author : Mr.Marcus Miller
language : en
Publisher: International Monetary Fund
Release Date : 1990-02-01
Currency Bands Target Zones And Cash Limits written by Mr.Marcus Miller and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990-02-01 with Business & Economics categories.
Exchange rate behavior is analyzed in the context of a stochastic rational expectations model in which there are random shocks to the price setting mechanism and in which the authorities choose to impose either nominal or real exchange rate bands. Results are compared to those which emerge from a simple monetary model subject to velocity shocks. The effects of a realignment of the Band, and of fiscal policy used in conjunction with monetary policy to defend the band, are also examined.
Currency Option Pricing In Credible Target Zones
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Author : Bernard Dumas
language : en
Publisher:
Release Date : 1993
Currency Option Pricing In Credible Target Zones written by Bernard Dumas and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Currency convertibility categories.
This paper develops a model for valuing options on a currency which is maintained within a band. The starting point of our model is the well known Krugman model for exchange-rate behavior within a target zone. Results from model runs provide insight into evidence reported by other authors of mispricing of currency options by extensions of the Black-Scholes model.
Perforate And Imperforate Currency Bands
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Author : Paolo A. Pesenti
language : en
Publisher:
Release Date : 1990
Perforate And Imperforate Currency Bands written by Paolo A. Pesenti and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Foreign exchange administration categories.
Modeling And Estimating Currency Bands In A Managed Floating System
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Author : Renqi Zhang
language : en
Publisher:
Release Date : 1994
Modeling And Estimating Currency Bands In A Managed Floating System written by Renqi Zhang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Foreign exchange categories.
Soft Exchange Rate Bands And Speculative Attacks
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Author : Mr.Alessandro Prati
language : en
Publisher: International Monetary Fund
Release Date : 1998-11-01
Soft Exchange Rate Bands And Speculative Attacks written by Mr.Alessandro Prati and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-11-01 with Business & Economics categories.
We present a model of a “soft” exchange rate target zone and interpret it as a stylized description of the post-August 1993 ERM. Our central bank targets a moving average of the current and past exchange rates, rather than the exchange rate’s current level, thus allowing the rate to move within wide margins in the short run, but within narrow margins in the long run. For realistic parameters, soft target zones are significantly less vulnerable to speculative attacks than “hard” target zones. These predictions are consistent with the ERM’s experience and the abatement of speculative pressure in European markets since the bands’ widening in 1993.
Foreign Exchange Intervention As A Monetary Policy Instrument
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Author : Felix Hüfner
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Foreign Exchange Intervention As A Monetary Policy Instrument written by Felix Hüfner and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
Foreign exchange intervention is frequently being used by central banks in countries which have a floating exchange rate. Most theoretical monetary policy models, however, do not take this phenomenon into account. This book contributes to close this gap between theory and practice by interpreting foreign exchange intervention as an additional monetary policy instrument for inflation targeting central banks. In-depth empirical analyses of the foreign exchange operations and interest rate policy of five inflation targeting countries (Australia, Canada, New Zealand, Sweden and the United Kingdom) demonstrate how foreign exchange intervention is used in practice.
The Crawling Band As An Exchange Rate Regime
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Author : John Williamson
language : en
Publisher: Peterson Institute for International Economics
Release Date : 1996
The Crawling Band As An Exchange Rate Regime written by John Williamson and has been published by Peterson Institute for International Economics this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Business & Economics categories.
This study examines in detail the experiences of three countries that have in recent years operated exchange rate systems of "crawling bands," similar in spirit to the target zones that the author has recommended in the past. Williamson compares the succcessful experiences of 3 countries that have operated crawling bands with 15 similar countries and concludes that the crawling band exchange-rate policy has been an important element in their success. The study includes a manual for managing crawling bands.
Reference Rates And The International Monetary System
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Author : John Williamson
language : en
Publisher: Columbia University Press
Release Date : 2007-04-30
Reference Rates And The International Monetary System written by John Williamson and has been published by Columbia University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-04-30 with Business & Economics categories.
Growing global imbalances threaten to induce a collapse of the dollar, which could in turn produce a severe recession in the rest of the world. This crisis could force countries to say "never again" and search for a system to prevent similar disasters. The system that could do so is a reference rate system—where countries' authorities are forbidden from intervening in order to push the exchange rate too far from what is termed the "reference rate." It could help a country's authorities manage its exchange rate to avoid large misalignments, assist the private sector in forming more dependable expectations of future exchange rates and thus to manage their businesses more efficiently in a world of floating exchange rates, and aid the International Monetary Fund in designing and managing an effective system of multilateral surveillance. The world economy would function better as a result, with less chance of the global imbalances leading to a world recession.
An Empirical Exploration Of Exchange Rate Target Zones
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Author : Mr.Robert P. Flood
language : en
Publisher:
Release Date : 1991-02
An Empirical Exploration Of Exchange Rate Target Zones written by Mr.Robert P. Flood and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991-02 with Business & Economics categories.
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.