Bofinger, Peter; Wollmershäuser, Timo - Wirtschaftswissenschaftliche Fakultät, Bayerische … - 2001
Although there seems to be a broad consensus among economists that purely floating or completely fixed exchange rates … different forms of floating on the basis of a central bank's intervention activity: pure floating (no interventions …), independent floating (exchange rate smoothing), and managed floating (exchange rate targeting). Our cross-country study shows that …