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Targeting the Exchange Rate Empirical Investigation

The purpose of this paper is to implement empirically the new theory of exchange rate targeting. The theory formulates an expectations induced relationship between the exchange rate and the fundamental subject to random shocks and target zone constraints. By using monthly data for a representative s...

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Bibliographic Details
Corporate Author: International Monetary Fund
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1990
Series:IMF Working Papers
Subjects:
Exchange Rate Arrangements
Investment
Monetary Economics
Currency; Foreign Exchange
Factor Movement
Intangible Capital
National Accounts
Money
Foreign Exchange
Depreciation
Demand For Money
Saving And Investment
Foreign Exchange Policy
Exchange Rate Policy
Investments: General
Development Planning And Policy: Trade Policy
Macroeconomics
Capacity
Exchange Rates
Capital
Money And Monetary Policy
Israel
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:The purpose of this paper is to implement empirically the new theory of exchange rate targeting. The theory formulates an expectations induced relationship between the exchange rate and the fundamental subject to random shocks and target zone constraints. By using monthly data for a representative small-open economy (Israel in the 1980s) the empirical analysis identifies the special roled played by policy and market fundamentals in the behavior of the exchange rate
Physical Description:34 pages
ISBN:9781451964936

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