| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP552 |
| DP552 Expected and Predicted Realignments: The FF/DM Exchange Rate During the EMS | |
| Lars E.O. Svensson; Andrew Rose | |
| 发表日期 | 1991-07-01 |
| 出版年 | 1991 |
| 语种 | 英语 |
| 摘要 | An empirical model of time-varying realignment in an exchange rate target zone is developed. Expected rates of devaluation are estimated as the difference between interest rate differentials and estimated expected rates of depreciation within the exchange rate band, using French franc/Deutschmark data during the European Monetary System. The behaviour of estimated expected rates of depreciation accord well with the theoretical model of Bertola-Svensson (1990). We are also able to predict actual realignments with some success. |
| 主题 | International Macroeconomics |
| 关键词 | Devaluation European monetary system exchange rate Realignment Target zone |
| URL | https://cepr.org/publications/dp552 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529714 |
| 推荐引用方式 GB/T 7714 | Lars E.O. Svensson,Andrew Rose. DP552 Expected and Predicted Realignments: The FF/DM Exchange Rate During the EMS. 1991. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
