Chang, Wen-ya; Lai, Ching-chong; Tsai, Hsueh-fang - In: International Journal of Finance & Economics 4 (1999) 4, pp. 335-51
Based on the amended Aoki model embodying alternative price adjustment patterns, this paper re-examines the evolutionary behavior of exchange rate in response to alternative anticipated disturbances. It is shown that, regardless of whether the system is characterized by the global instability or...