1 option
The Linkage Between Speculative Attack and Target Zone Models of Exchange Rates / Peter M. Garber, Robert P. Flood, National Bureau of Economic Research.
- Format:
- Book
- Author/Creator:
- Garber, Peter M., author.
- Flood, Robert P., author.
- National Bureau of Economic Research, author.
- Series:
- Working paper series (National Bureau of Economic Research) ; number w2918.
- Working paper series (National Bureau of Economic Research) ; number w2918
- Language:
- English
- Subjects (All):
- Foreign exchange--Mathematical models.
- Foreign exchange.
- Physical Description:
- 1 online resource (19 pages).
- Place of Publication:
- Cambridge, Massachusetts : National Bureau of Economic Research, 1989.
- Summary:
- In this paper we generalize the target zone exchange rate as model formalized by Krugman (1988b) to include finite-sized interventions in defense of the zone. The main contributions of these pages consist of linking the recent developments in the theory of target zones to the mirror-image theory of speculative attacks on asset price fixing regimes and in using aspects of that linkage to give an intuitive interpretation to the smooth pasting" condition usually invoked as a terminal condition.
- Notes:
- Description based on publisher supplied metadata and other sources.
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.