Assessing Target Zone Credibility : Mean Reversion and Devaluation Expectations in the EMS /
The paper presents estimates of devaluation expectations for six EMS currencies relative to the Deutsche mark, for the period March 1979-May 1990. The estimation method is simple and operational, and consistently generates sensible results. The estimates are constructed by the adjusting interest rat...
| Auteur principal: | |
|---|---|
| Format: | Revue |
| Langue: | English |
| Publié: |
Washington, D.C. :
International Monetary Fund,
1991.
|
| Collection: | IMF Working Papers; Working Paper ;
No. 1991/096 |
| Accès en ligne: | Full text available on IMF |