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Soft Exchange Rate Bands and Speculative Attacks
			: Theory, and Evidence from the ERM since August 1993

Soft Exchange Rate Bands and Speculative Attacks : Theory, and Evidence from the ERM since August 1993 »

Volume/Issue: 1998/156

Series: IMF Working Papers

Author(s): Leonardo Bartolini , and Alessandro Prati

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1998

DOI: http://dx.doi.org/10.5089/9781451857375.001

ISBN: 9781451857375

Keywords: Exchange rate target zones, speculative attacks, exchange rate, exchange rates, equation, exchange rate target, currency markets

We present a model of a “soft” exchange rate target zone and interpret it as a stylized description of the post-August 1993 ERM. Our central bank targets a moving average of the current and past excha...

Soft Exchange Rate Bands and Speculative Attacks

Soft Exchange Rate Bands and Speculative Attacks »

Source: Soft Exchange Rate Bands and Speculative Attacks : Theory, and Evidence from the ERM since August 1993

Volume/Issue: 1998/156

Series: IMF Working Papers

Author(s): Leonardo Bartolini , and Alessandro Prati

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1998

ISBN: 9781451857375

Keywords: Exchange rate target zones, speculative attacks, exchange rate, exchange rates, equation, exchange rate target, currency markets

We present a model of a “soft” exchange rate target zone and interpret it as a stylized description of the post-August 1993 ERM. Our central bank targets a moving average of the current and past excha...