| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w2481 |
| 来源ID | Working Paper 2481 |
| Target Zones and Exchange Rate Dynamics | |
| Paul R. Krugman | |
| 发表日期 | 1988 |
| 出版年 | 1988 |
| 语种 | 英语 |
| 摘要 | This paper develops a highly simplified model of exchange rate behavior within the band under a target zone regime. It shows that the expectation that authorities will defend the band exerts a stabilizing effect on exchange rate behavior within the band, even when the authorities are not actively intervening. The extent of stabilization can be related in a straightforward way to three factors: the sensitivity of the current exchange rate to expected depreciation, the volatility of the process driving exchange rate "fundamentals", and the credibility of the commitment by authorities to defend the target zone. |
| 主题 | International Economics |
| URL | https://www.nber.org/papers/w2481 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/559737 |
| 推荐引用方式 GB/T 7714 | Paul R. Krugman. Target Zones and Exchange Rate Dynamics. 1988. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w2481.pdf（235KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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