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Author: | Rangvid, J. Sörensen, C. |
Title: | Determinants of the implied shadow exchange rates from a target zone |
Journal: | European Economic Review
2001 : OCT, VOL. 45:9, p. 1665-1696 |
Index terms: | EXCHANGE RATES INTEREST RATES |
Freeterms: | TARGET ZONES |
Language: | eng |
Abstract: | The paper provides a continuous-time model model of the dynamic behavior of exchange rates and interest rates when exchange rates are managed within a target zone with the possibility of realignments. In the case of a realignment the exchange rate jumps to a shadow exchange rate. |
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