Assessing Target Zone Credibility
Title | Assessing Target Zone Credibility PDF eBook |
Author | Mr.Lars E. O. Svensson |
Publisher | International Monetary Fund |
Pages | 35 |
Release | 1991-10-01 |
Genre | Business & Economics |
ISBN | 1451949960 |
The paper presents estimates of devaluation expectations for six EMS currencies relative to the Deutsche mark, for the period March 1979-May 1990. The estimation method is simple and operational, and consistently generates sensible results. The estimates are constructed by the adjusting interest rate differentials by subtracting estimated expected rates of depreciation within the exchange rate band. The adjustment is nontrivial because exchange rates within the ERM bands display mean reversion rather than random walk (unit root) behavior. The adjustment is essential since the expected rates of depreciation are usually of about the same magnitude as the interest rate differentials.
Assessing target zone credibility
Title | Assessing target zone credibility PDF eBook |
Author | Lars Svensson |
Publisher | |
Pages | 24 |
Release | 1991 |
Genre | |
ISBN |
Assessing Target Zone Credibility: Mean Reversion and Develuation Expectations in the EMS
Title | Assessing Target Zone Credibility: Mean Reversion and Develuation Expectations in the EMS PDF eBook |
Author | L. E. O. Svensson |
Publisher | |
Pages | |
Release | 1991 |
Genre | |
ISBN |
Assessing Target Zone Credibility
Title | Assessing Target Zone Credibility PDF eBook |
Author | Lars E.O. Svensson |
Publisher | |
Pages | 21 |
Release | 1996 |
Genre | |
ISBN |
Assessing the credibility of a target zone
Title | Assessing the credibility of a target zone PDF eBook |
Author | |
Publisher | |
Pages | 42 |
Release | 2001 |
Genre | |
ISBN |
Assessing the Credibility of a Target Zone
Title | Assessing the Credibility of a Target Zone PDF eBook |
Author | Francisco J. Ledesma RodrÃguez |
Publisher | |
Pages | 41 |
Release | 2001 |
Genre | |
ISBN |
Assess Target Zone Credibility
Title | Assess Target Zone Credibility PDF eBook |
Author | Lars E. O. Svensson |
Publisher | |
Pages | |
Release | 1991 |
Genre | |
ISBN |