Corrado, Luisa; Miller, Marcus H.; Zhang, Lei - Centro di Studi Internazionali Sull'Economia e la … - 2003
-induced. John Williamson (1998), for example, has proposed a "monitoring band" in which there is no intervention near equilibrium … but there is substantial intervention triggered by exchange rate deviations outside a preset band. In this paper we … develop a theoretical model for a stylised monitoring band to see whether it can generate patterns of nonlinear mean …