| 1 |
| Authors | R.M.W.J. Beetsma, F. van der Ploeg | | Title | Intramarginal interventions, bands and the pattern of EMS exchange rate distributions |
| Journal | International Economic Review |
| Volume | 35 |
| Year | 1994 |
| Issue | 3 |
| Pages | 583-602 |
| ISSN | 0020-6598 |
| Faculty | Faculty of Economics and Business |
| Institute/dept. | FEB: Research Institute in Economics and Econometrics Amsterdam (RESAM) |
| Keywords | Exchange rates; EMS |
| Abstract | The 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 type | Article |
| Document finder | 
|
Use this url to link to this page: http://dare.uva.nl/en/record/106907
Contact us about this recordNotify a colleague
Add to bookbag
|
