Target Zones and Interest Rate Variability

Target Zones and Interest Rate Variability
The trade-off between interest rate variability and the width of an exchange rate target zone is examined, using the regulated Brownian motion model of target zones. The interest rate differential's asymptotic (unconditional) variability is increasing in the exchange rate band for narrow bands; whereas it is slowly decreasing for wide bands. The... READ MORE...

Publication date: April 1990
ISBN 9781451979992
$15.00

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