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Saturday, August 1, 2020 | History

2 edition of linkage between speculative attack and target zone models of exchange rates found in the catalog.

linkage between speculative attack and target zone models of exchange rates

Robert P. Flood

linkage between speculative attack and target zone models of exchange rates

by Robert P. Flood

  • 16 Want to read
  • 15 Currently reading

Published by National Bureau of Economic Research in Cambridge, MA .
Written in English

    Subjects:
  • Pricing -- Econometric models.,
  • Foreign exchange -- Rates -- Econometric models.

  • Edition Notes

    StatementRobert P. Flood, Peter M. Garber.
    SeriesNBER working paper series -- working paper no. 2918, Working paper series (National Bureau of Economic Research) -- working paper no. 2918.
    ContributionsGarber, Peter M.
    The Physical Object
    Pagination19, [3] p. :
    Number of Pages19
    ID Numbers
    Open LibraryOL22437502M

    THE LINKAGE BETWEEN SPECULATIVE ATTACK AND TARGET ZONE MODELS OF EXCHANGE RATES ROBERT P. FLOOD AND PETER M. GARBER I. INTRODUCTION In this paper we study the target zone exchange rate model formalized recently by Krugman [, ].1 The main contribu-tion of this paper consists of linking the "smooth pasting". The Linkage Between Speculative Attack and Target Zone Models of Exchange Rates The Quarterly Journal of Economics, , , (4), View citations (47) See also Working Paper () Famous First Bubbles Journal of Economic Perspectives, , 4, (2), View citations ()

    (). Target Zones with Limited Reserves. NBER Working Paper no. (). The Eventual Failure of Price Fixing Schemes. (). The Linkage between Speculative Attack and Target Zone Models of Exchange Rates. ().   The New Open Economy Macroeconomics: Pricing to Market and Exchange Rate Volatility Redux The Economics of Fixed Exchange Rates, Part 1: Target Zone Models The Economics of Fixed Exchange Rates, Part 2: Speculative Attack Models and Contagion The Market Microstructure Approach to the Foreign Exchange Market

    Exchange rates in a currency band: a sketch of the new approach Paul Krugman Part II. Currency Bands: Extending the Model: 3. The linkage between speculative attack and target zone models of exchange rates: some extended results Robert P. Flood, and Peter M. Garber Discussion Paul Weller 4. "The Linkage Between Speculative Attack and Target Zone Models of Exchange Rates: Some Extended Results" shows that the re-cent literature on exchange rate target zones is intimately related to the earlier work on speculative attacks. An exchange rate in a tar-get zone is a form of regulated Brownian motion. The exact behavior of this stochas-.


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Linkage between speculative attack and target zone models of exchange rates by Robert P. Flood Download PDF EPUB FB2

The Linkage Between Speculative Attack and Target Zone Models of Exchange Rates Article (PDF Available) in Quarterly Journal of Economics (4). Additional Physical Format: Online version: Flood, Robert P. Linkage between speculative attack and target zone models of exchange rates.

Cambridge, MA: National Bureau of Economic Research, []. Exchange Rate Targets and Currency Bands, eds. Krugman and M.

Miller, Cambridge University Press, October Flood, Robert P & Garber, Peter M, " The Linkage between Speculative Attack and Target Zone Models of Exchange Rates, " The Quarterly Journal of Economics, MIT Press, vol.

(4), pagesby: Downloadable (with restrictions). In this paper we generalize the target zone exchange rate as model formalized by Krugman (b) to include finite-sized interventions in defense of the zone.

The main contributions of these pages consist of linking the recent developments in the theory of target zones to the mirror-image theory of speculative attacks on asset price fixing regimes.

Robert P. Flood, Peter M. Garber; The Linkage Between Speculative Attack and Target Zone Models of Exchange Rates, The Quarterly Journal of Economics, Volume 1 We use cookies to enhance your experience on our continuing to use our website, you are agreeing to our use of by: This paper generalizes the target zone exchange rate as a model formalized by Krugman ().The main contributions of these pages consist in linking the recent developments in the theory of target zones to the mirror-image theory of speculative attacks on asset price fixing regimes and in using aspects of that linkage to give an intuitive interpretation to the “smooth-pasting”.

"The Linkage Between Speculative Attack and Target the target zone (TZ) exchange rate as model formalized by Krugman (b) rate within a target zone when exchange rates. Flood R., Garber P. () The linkage between speculative attack and target zone: models of exchange rates.

Quarterly J. of Econ. to appear Google Scholar. During the s it has been clear that the controllability of the exchange rates by the central banks' interventions is limited (McKinnon, ). The Linkage between Speculative Attack and Target Zone Models of Exchange Rates.

The Linkage between Speculative Attack and Target Zone Models of Exchange Rates. Exchange rates in a currency band: a sketch of the new approach Paul Krugman; Part II. Currency Bands: Extending the Model: 3.

The linkage between speculative attack and target zone models of exchange rates: some extended results Robert P. Flood, and Peter M.

Garber; Discussion Paul Weller; 4. The paper reviews the recent literature on exchange rate target zones and on speculative attacks on fixed exchange rates. The influential Krugman model of exchange rate target zones has two main results, namely that credible target zones stabilize exchange rates more than fundamentals (the `honeymoon effect') and that exchange rates depend on fundamentals.

The Linkage Between Speculative Attack and Target Zone Models of Exchange Rates. Robert Flood and Peter Garber. NoNBER Working Papers from National Bureau of Economic Research, Inc Abstract: In this paper we generalize the target zone exchange rate as model formalized by Krugman (b) to include finite-sized interventions in defense of the zone.

“ The Linkage between Speculative Attack and Target Zone Models of Exchange Rates.” Quarterly Journal of Economics, (11 ), – Froot, K., and Obstfeld, M. are subject to speculative attack.

The linkage between target zone exchange rate theory and speculative attack theory has been studied by Flood and Garber (), and leads to the definition of required foreign exchange reserves derived by Krugman and Rotemberg (,). The magic number for reserves is a proportion of domestic credit; this.

Intramarginal intervention in the EMS and the target-zone model of exchange-rate behavior Thv, linkage between speculative attack and targe zone models of exchange rates, Quarterly Jo irnal of EconomicsNfijv.

Flood, R.P., A.K. Rose and D.J. Mathie;j,on,An empirical exploration of exchange rate target zones, Working paper WP/ The Krugman Target Zone Model After some earlier work on exchange rate target zones (for instance, Williamson, ; Williamson and Miller, ; and Dumas, )1 the recent work took off with Paul Krugman's elegant target zone model (Krugman, ).

This paper, first circulated inpresented what has become the. R.P. Flood, P.M. GarberThe linkage between speculative attack and target zone models of exchange rates Quarterly Journal.

The Linkage Between Speculative Attack and Target Zone Models of Exchange Rates. Abstract. In this paper we generalize the target zone exchange rate as model formalized by Krugman (b) to include finite-sized interventions in defense of the zone.

The main contributions of these pages consist of linking the recent developments in the. Flood, R.P. and P.M. Garber (), ‘The Linkage between Speculative Attack and Target Zone Models of Exchange Rate’, NBER, Working.

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. It is shown that for narrow exchange rate bands, and for reasonable parameter values, the interest rate differential's asymptotic variability is increasing in the width of the.

The Linkage between Speculative Attack and Target Zone Models of Exchange Rates.Cukierman et al. The Choice of Exchange-Rate Regime and Speculative Attacks models, the policies that ultimately lead to the collapse of xed exchange-rate regimes are speci ed exogenously, whereas in second-generation models, poli-cymakers play an active role in deciding whether or not to defend the currency against a speculative attack.The papers in this book are grouped into three the linkage between speculative attack and target zone models of exchange rates - some extended results, Robert P.

Flood and Peter M. Garber. Part 3 Policy switching: a model of stochastic process switching, Robert P. Flood and Peter M. Garber; an economic theory of monetary reform, Robert P.