Currency Bands, Target Zones, and Cash Limits : Thresholds for Monetary and Fiscal Policy

Thresholds for Monetary and Fiscal Policy

Currency Bands, Target Zones, and Cash Limits : Thresholds for Monetary and Fiscal Policy
Exchange rate behavior is analyzed in the context of a stochastic rational expectations model in which there are random shocks to the price setting mechanism and in which the authorities choose to impose either nominal or real exchange rate bands. Results are compared to those which emerge from a simple monetary model subject to velocity shocks.... READ MORE...

Publication date: February 1990
ISBN 9781451928853
$15.00

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