Soft Exchange Rate Bands and Speculative Attacks : Theory, and Evidence from the ERM since August 1993 /

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 m...

Deskribapen osoa

Xehetasun bibliografikoak
Egile nagusia: Bartolini, Leonardo
Beste egile batzuk: Prati, Alessandro
Formatua: Aldizkaria
Hizkuntza:English
Argitaratua: Washington, D.C. : International Monetary Fund, 1998.
Saila:IMF Working Papers; Working Paper ; No. 1998/156
Sarrera elektronikoa:Full text available on IMF