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An Interpretation of Recent Research on Exchange Rate Target Zones

An Interpretation of Recent Research on Exchange Rate Target Zones Abstract How do exchange rate bands work compared to completely fixed rates (between realignments); or, more precisely, what are the dynamics of exchange rates, interest rates, and central bank interventions within exchange rate bands? Does the difference between bands and completely fixed exchange rates matter, and if so, which of the two arrangements is best; or, more precisely, what are the tradeoffs that determine the optimal bandwidth? This article will present an interpretation of some selected recent theoretical and empirical research on exchange rate target zones, with emphasis on main ideas and results and without technical detail. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Economic Perspectives American Economic Association

An Interpretation of Recent Research on Exchange Rate Target Zones

Journal of Economic Perspectives , Volume 6 (4) – Nov 1, 1992

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Publisher
American Economic Association
Copyright
Copyright © 1992 by the American Economic Association
Subject
Articles
ISSN
0895-3309
DOI
10.1257/jep.6.4.119
Publisher site
See Article on Publisher Site

Abstract

Abstract How do exchange rate bands work compared to completely fixed rates (between realignments); or, more precisely, what are the dynamics of exchange rates, interest rates, and central bank interventions within exchange rate bands? Does the difference between bands and completely fixed exchange rates matter, and if so, which of the two arrangements is best; or, more precisely, what are the tradeoffs that determine the optimal bandwidth? This article will present an interpretation of some selected recent theoretical and empirical research on exchange rate target zones, with emphasis on main ideas and results and without technical detail.

Journal

Journal of Economic PerspectivesAmerican Economic Association

Published: Nov 1, 1992

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