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Target zones in history and theory : lessons from an Austro-Hungarian experiment (1896-1914)
Flandreau, Marc; Komlos, John - 2003
, such as the ERM, this policy was not undermined by credibility problems. The episode provides an ideal testing ground for …
Persistent link: https://www.econbiz.de/10010440947
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Target Zones in History and Theory: Lessons from an Austro-Hungarian Experiment (1896-1914)
Flandreau, Marc; Komlos, John - 2003
, such as the ERM, this policy was not undermined by credibility problems. The episode provides an ideal testing ground for …
Persistent link: https://www.econbiz.de/10010427366
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Target Zones in Theory and History: Credibility, Efficiency, and Policy Autonomy
Flandreau, Marc; Komlos, John - C.E.P.R. Discussion Papers - 2005
set of nested hypotheses, the inference is drawn that policy credibility and market efficiency were paramount in the …
Persistent link: https://www.econbiz.de/10005661480
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How Tight Should One's Hands Be Tied? Fear of Floating and Credibility of Exchange Rate Regimes
López, Jesús Rodríguez; Mendizábal, Hugo Rodríguez - Barcelona Graduate School of Economics (Barcelona GSE) - 2003
This paper analyzes the linkages between the credibility of a target zone regime, the volatility of the exchange rate … the band width induces a trade-off between credibility and volatility. Narrower bands should give less scope for the …
Persistent link: https://www.econbiz.de/10010547186
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How Tight Should Central Bank’s Hands be Tied? Credibility, Volatility and the Optimal Band Width of a Target Zone.
López, Jesús Rodríguez; Mendizábal, Hugo Rodríguez - Centro de Estudios Andaluces, Government of Andalusia - 2003
This paper analyzes the linkages between the credibility of a target zone regime, the volatility of the exchange rate … the band width induces a trade-off between credibility and volatility. Narrower bands give less scope for the exchange …
Persistent link: https://www.econbiz.de/10005063189
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How tight should one's hands be tied? Fear of floating and credibility of exchange regimes.
López, Jesús Rodríguez; Mendizábal, Hugo Rodríguez - Departamento de Economía, Universidad Pablo de Olavide - 2006
credibility of the exchange regime, the volatility of the exchange rate and the band width of fluctuation. Second, the model is …
Persistent link: https://www.econbiz.de/10005634784
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How tight should one's hands be tied? Fear of floating and credibility of exchange rate regimes
Lopez, Jesus Rodriguez; Mendizabal, Hugo Rodriguez - Departament d'Economia i Història Econòmica, … - 2003
This paper analyzes the linkages between the credibility of a target zone regime, the volatility of the exchange rate … the band width induces a trade-off between credibility and volatility. Narrower bands should give less scope for the …
Persistent link: https://www.econbiz.de/10005572195
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Exchange Rate and Interest Rate Volatility in a Target Zone: The Portuguese Case
Duarte, António Portugal; Andrade, João Sousa; … - Grupo de Estudos Monetários e Financeiros (GEMF), … - 2008
. These results express the increased credibility of the Portuguese monetary policy, due manly to the modernisation of the … zone was crucial to create the conditions of stability, credibility and confidence necessary for the adoption of a single …
Persistent link: https://www.econbiz.de/10005670368
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Using ARIMA Forecasts to Explore the Efficiency of the Forward Reichsmark Market. Austria-Hungary, 1876-1914
Komlos, John; Flandreau, Marc - 2002
We explore the efficiency of the forward reichsmark market in Vienna between 1876 and 1914. We estimate ARIMA models of the spot exchange rate in order to forecast the one-month-ahead spot rate. In turn we compare these forecasts to the contemporaneous forward rate, i.e., the market's forecast...
Persistent link: https://www.econbiz.de/10010427356
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How to run a target zone? : age old lessons from an Austro-Hungarian experiment
Flandreau, Marc; Komlos, John - 2001
monetarypolicy autonomy. However, unlike more recent experiences, such as theERM, this policy was not undermined by credibility …
Persistent link: https://www.econbiz.de/10011399739