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Targeting the Exchange Rate : an empirical investigation / Shulamit Pessach, Assaf Razin.
- Format:
- Book
- Author/Creator:
- Pessach, Shulamit, author.
- Razin, Assaf, author.
- Series:
- Working paper series (National Bureau of Economic Research) ; number w3662.
- Working paper series (National Bureau of Economic Research) ; number w3662
- Language:
- English
- Subjects (All):
- Foreign exchange--Econometric models.
- Foreign exchange.
- Physical Description:
- 1 online resource (34, 19 pages) : illustrations.
- Place of Publication:
- Cambridge, MA : National Bureau of Economic Research, 1991.
- Summary:
- The purpose of this paper is to implement empirically a variant of the new theory of exchange rate targeting, suitable for high inflation small open economies. The theory formulates an expectations induced relationship between the exchange rate and the fundamental subject to random shocks and target zone constraints on rates of depreciation. The empirical analysis identifies the roles played by policy and market fundamentals in foreign exchange markets, and estimate the key parameters of the exchange rate dynamic equation.
- Notes:
- Description based on publisher supplied metadata and other sources.
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