Frankel, Jeffrey Alexander; Schmukler, Sergio; Servén, Luis - National Bureau of Economic Research (NBER) - 2000
lack verifiability, needed for credibility. Central banks announce intermediate targets such as exchange rates, so that the …The corners hypothesis holds that intermediate exchange rate regimes are vanishing, or should be. Surprisingly for a … distinguish such a regime from a floating exchange rate. We apply the econometrics, first, to the example of Chile and, second, by …