Target Zones and Forward Rates in a Model with Repeated Realignments /
This paper studies the implications of the imperfect credibility of an exchange rate target zone on the term structure of forward premia. The relationship between spot and forward exchange rates of different maturities reflects the possibility of repeated realignments of the exchange rate band. The...
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| Format: | Tidsskrift |
| Sprog: | English |
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Washington, D.C. :
International Monetary Fund,
1992.
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| Serier: | IMF Working Papers; Working Paper ;
No. 1992/022 |
| Online adgang: | Full text available on IMF |