Targeting the exchange rate : an empirical investigation / Shula Pessach, Assaf Razin.
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Pessach, Shula (författare)
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Razin, Assaf (författare)
- Publicerad: Cambridge, Mass. National Bureau of Economic Research, 1991
- Engelska 34, [19] s.
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Serie: Working paper series / National Bureau of Economic Research, 99-0429337-6 ; 3662
Sammanfattning
Ämnesord
Stäng
- 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.
Ämnesord
- Foreign exchange -- Israel -- Econometric models (LCSH)
Klassifikation
- 332.45 (DDC)
- Qaeaf (kssb/8 (machine generated))
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