Add to ORKGIn this paper, we present stylized facts about exchange rate fluctuations and intervention behavior in the Exchange Rate Mechanism I (ERM I), in particu-lar in light of the recent literature on multilateral target zone models. We esti-mate bilateral exchange rate distributions of the maximum spot rate deviations of six ERM I currencies, explicitly taking the multilateral setting of ERM I into account. In a further analysis, we estimate short-term reaction functions for th
One key prediction of the target zone model is that the exchange rate should be mean-reverting withi...
This paper develops a model of central-bank intervention based upon a policy characteristic of forei...
This study investigates exchange rate movements in the Exchange Rate Mechanism (ERM) of the European...
In this paper we consider a regime where several target zones coexist. Parities are defended by mani...
This study investigates exchange rate movements in the Exchange Rate Mechanism (ERM) of the European...
From the classical gold standard up to the current ERM2 arrangement of the European Union, target zo...
In this paper, the author considers a multilateral target zone model that generalizes Krugman's mode...
Krugman (1991) provided a rigorous economic argument for the merits of target zone exchange rate arr...
This paper develops a model of central-bank intervention based upon a policy characteristic of forei...
From the classical gold standard up to the current ERM2 arrangement of the European Union, target zo...
Since the creation of the EMS in 1979 and the Louvre Accord in 1987, economists and policy makers ha...
From the classical gold standard up to the current ERM2 arrangement of the European Union, target zo...
This study investigates exchange rate movements in the Exchange Rate Mechanism (ERM) of the European...
Exchange rate and central bank intervention is an important topic in the exchange rate determinatio...
This paper adjusts the Chen and Giovannini (1992) methodology to estimate the unconditional distribu...
One key prediction of the target zone model is that the exchange rate should be mean-reverting withi...
This paper develops a model of central-bank intervention based upon a policy characteristic of forei...
This study investigates exchange rate movements in the Exchange Rate Mechanism (ERM) of the European...
In this paper we consider a regime where several target zones coexist. Parities are defended by mani...
This study investigates exchange rate movements in the Exchange Rate Mechanism (ERM) of the European...
From the classical gold standard up to the current ERM2 arrangement of the European Union, target zo...
In this paper, the author considers a multilateral target zone model that generalizes Krugman's mode...
Krugman (1991) provided a rigorous economic argument for the merits of target zone exchange rate arr...
This paper develops a model of central-bank intervention based upon a policy characteristic of forei...
From the classical gold standard up to the current ERM2 arrangement of the European Union, target zo...
Since the creation of the EMS in 1979 and the Louvre Accord in 1987, economists and policy makers ha...
From the classical gold standard up to the current ERM2 arrangement of the European Union, target zo...
This study investigates exchange rate movements in the Exchange Rate Mechanism (ERM) of the European...
Exchange rate and central bank intervention is an important topic in the exchange rate determinatio...
This paper adjusts the Chen and Giovannini (1992) methodology to estimate the unconditional distribu...
One key prediction of the target zone model is that the exchange rate should be mean-reverting withi...
This paper develops a model of central-bank intervention based upon a policy characteristic of forei...
This study investigates exchange rate movements in the Exchange Rate Mechanism (ERM) of the European...