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Query: faculty: "FEB" and publication year: "1994"

AuthorsR.M.W.J. Beetsma, F. van der Ploeg
TitleIntramarginal interventions, bands and the pattern of EMS exchange rate distributions
JournalInternational Economic Review
Volume35
Year1994
Issue3
Pages583-602
ISSN0020-6598
FacultyFaculty of Economics and Business
Institute/dept.FEB: Amsterdam School of Economics Research Institute (ASE-RI)
KeywordsExchange rates; EMS
AbstractThe authors document an empirical puzzle for European Monetary System exchange rates during a period in which the bands on these exchanges rates were (almost) credible, i.e., exchange rate distributions are hump-shaped rather than U-shaped as predicted by the standard target zone model. The authors offer an explanation of this puzzle that is based on the combination of two realistic features, namely the presence of intramarginal interventions and wage/price sluggishness.
Document typeArticle
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