Soft exchange rate bands and speculative attacks - Info and Reading Options
theory, and evidence from the ERM
By Leonardo Bartolini
"Soft exchange rate bands and speculative attacks" was published by Federal Reserve Bank of New York in 1998 - [New York, N.Y.] and the language of the book is English.
“Soft exchange rate bands and speculative attacks” Metadata:
- Title: ➤ Soft exchange rate bands and speculative attacks
- Author: Leonardo Bartolini
- Language: English
- Publisher: ➤ Federal Reserve Bank of New York
- Publish Date: 1998
- Publish Location: [New York, N.Y.]
“Soft exchange rate bands and speculative attacks” Subjects and Themes:
- Subjects: Devaluation of currency - Econometric models - Foreign exchange rates - Monetary policy
- Places: Econometric models - Europe
Edition Specifications:
- Format: Electronic resource
Edition Identifiers:
- The Open Library ID: OL3476900M - OL5890881W
- Library of Congress Control Number (LCCN): 2005616472
AI-generated Review of “Soft exchange rate bands and speculative attacks”:
"Soft exchange rate bands and speculative attacks" Description:
The Open Library:
"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 move within wide margins in the short run but within narrow margins in the long run. For realistic parameters, soft target zones are significantly less vulnerable to speculative attacks than "hard" target zones. These predictions are consistent with the ERM's experience and the abatement of speculative pressure in European markets since the bands' widening in 1993"--Federal Reserve Bank of New York web site.
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