Search Results - subject_exact:"Target zone"

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Stablecoin price dynamics under a peg-stabilising mechanism

Hui, Cho H.; Wong, Andrew; Lo, Chi-Fai - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015561375

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Stablecoin price dynamics under a peg-stabilising mechanism

Hui, Cho H.; Wong, Andrew; Lo, Chi-Fai - 2023

Book / Working Paper

Target zones on firm's value

Marzo, Massimiliano - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015562324

Foreign exchange interventions under a one-sided target zone regime and the Swiss franc

Hertrich, Markus - 2020

From September 2011 to January 2015, the Swiss National Bank (SNB) implemented a minimum exchange rate regime (i.e. a one-sided target zone) vis-a-vis the euro to fight deflationary pressures in the aftermath of the Great Financial Crisis. During this period of unconventional monetary policy,...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012197889

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Foreign exchange interventions under a one-sided target zone regime and the Swiss franc

Hertrich, Markus - 2020

Book / Working Paper

Foreign Exchange Interventions Under a One-sided Target Zone Regime and the Swiss Franc

Hertrich, Markus - 2020

Book / Working Paper

Foreign Exchange Interventions Under a One-Sided Target Zone Regime and the Swiss Franc

Hertrich, Markus - 2020

Book / Working Paper

Understanding the German criticism of Target

Perotti, Roberto - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014526033

G3 exchange rate relationships : a recap of the record and a review of proposals for change

Clarida, Richard H. - 1999

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10001436512

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G3 Exchange Rate Relationships : A Recap of the Record and a Review of Proposals for Change

Clarida, Richard H. - 2022

Book / Working Paper

G3 Exchange Rate Relationships : A Recap of the Record and a Review of Proposals for Change

Clarida, Richard H. - 1999

Book / Working Paper

G3 exchange rate relationships : a recap of the record and a review of proposals for change

Clarida, Richard H. - 1999

Book / Working Paper

Estimating Expected Exchange Rates Under Target Zones

Chen, Zhaohui; Giovannini, Alberto - 2022

This paper develops a simple econometric procedure for estimating expected exchange rate under target zones. We employ the linear projection methodology to make predictions without relying on any prior structural or distributional assumptions, and at the same time demonstrate that such a...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013323565

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Estimating Expected Exchange Rates Under Target Zones

Chen, Zhaohui - 1992

Book / Working Paper

A Guide to Target Zones

Frenkel, Jacob A.; Goldstein, Morris - 2022

This paper identifies key issues surrounding the advisability and practicality of adopting "target zones" for the exchange rates of major currencies. Pour fundamental questions concerning the definition of and the rationale for target zones are addressed: first, what is generally meant by a...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013324482

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A Guide to Target Zones

Frenkel, Jacob A. - 1986

Book / Working Paper

A note on modelling yield curve control : a target-zone approach

Hui, Cho H.; Wong, Andrew; Lo, Chi-Fai - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013478644

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A Note on Modelling Yield Curve Control : A Target-Zone Approach

Hui, Cho H.; Wong, Andrew; Lo, Chi-Fai - 2022

Book / Working Paper

The existential trilemma of EMU in a model of fiscal target zone

Della Posta, Pompeo; Tamborini, Roberto - 2022

Objectives: Is the Economic and Monetary Union (EMU) truly ‘irreversible’ as stated in the treaties? (i) From the sovereign debt crises of the 2010s, and the outbreak of the COVID-19 pandemic, we draw the lesson that when exposed to large, systemic shocks the EMU faces a trilemma among...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013465561

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The existential trilemma of EMU in a model of fiscal target zone

Della Posta, Pompeo; Tamborini, Roberto - 2021

Book / Working Paper

The existential trilemma of EMU in a model of fiscal target zone

Della Posta, Pompeo; Tamborini, Roberto - 2021

Book / Working Paper

Foreign exchange interventions under a minimum exchange rate regime and the Swiss franc

Hertrich, Markus - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013185767

The Eurozone as an inflation target zone

Della Posta, Pompeo; Tamborini, Roberto - 2022

In the revised monetary policy strategy of the European Central Bank (ECB), "price stability is best maintained by aiming for two per cent inflation over the medium term", with "symmetric commitment" to this target. "Symmetry means that the Governing Council considers negative and positive...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013413505

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The eurozone as an inflation target zone

Della Posta, Pompeo; Tamborini, Roberto - 2022

Book / Working Paper

The Eurozone as an Inflation Target Zone

Della Posta, Pompeo; Tamborini, Roberto - 2022

Book / Working Paper

The Eurozone as an inflation target zone

Della Posta, Pompeo; Tamborini, Roberto - 2022

Book / Working Paper

"Wait and see" or "fear of floating"?

Lei, Xiaowen; Lu, Dong; Kasa, Kenneth - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013270219

Target zones and exchange rates : an empirical investigation

Bekaert, Geert - 1998

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10001248183

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Target Zones and Exchange Rates : An Empirical Investigation

Bekaert, Geert; Gray, Stephen - 2021

Book / Working Paper

Target Zones and Exchange Rates : An Empirical Investigation

Bekaert, Geert - 1996

Book / Working Paper

What Hurts Most? G-3 Exchange Rate or Interest Rate Volatility

Reinhart, Carmen M.; Reinhart, Vincent - 2021

With many emerging market currencies tied to the U.S. dollar either implicitly or explicitly, movements in the exchange values of the currencies of major countries have the potential to influence the competitive position of many developing countries. According to some analysts, establishing...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013230967

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What Hurts Most? G-3 Exchange Rate or Interest Rate Volatility

Reinhart, Carmen M. - 2001

Book / Working Paper

Target zones and exchange rate dynamics

Krugman, Paul R. - 1988

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10000755172

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Target Zones and Exchange Rate Dynamics

Krugman, Paul R. - 2021

Book / Working Paper

Target Zones and Exchange Rate Dynamics

Krugman, Paul R. - 1988

Book / Working Paper

Exchange Rates Dynamics in a Target Zone - A Heterogeneous Expectations Approach

Bauer, Christian; De Grauwe, Paul; Reitz, Stefan - 2021

The target zone model of Krugman (1991) has failed empirically. In this paper, we develop a model of the exchange rate with heterogeneous agents in a free floating and a target zone regime. We show that this simple model mimics the empirical puzzles of exchange rates: excessive volatility, fat...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013316875

Money supply and the implementation of interest rate targets

Schabert, Andreas - 2005

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10002902680

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Money supply and the implementation of interest rate targets

Schabert, Andreas - 2005

Book / Working Paper

Money supply and the implementation of interest rate targets

Schabert, Andreas - 2005

Book / Working Paper

Money Supply and the Implementation of Interest Rate Targets

Schabert, Andreas - 2021

Book / Working Paper

How long do unilateral target zones last?

Dumas, Bernard - 1993

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10000882095

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How long do unilateral target zones last?

Dumas, Bernard - 1992

Book / Working Paper

How long do unilateral target zones last?

Dumas, Bernard - 1991

Book / Working Paper

How Long Do Unilateral Target Zones Last?

Dumas, Bernard; Svensson, Lars E. O. - 2021

Book / Working Paper

How long do unilateral target zones last?

Dumas, Bernard - 1992

Book / Working Paper

How Long do Unilateral Target Zones Last?

Dumas, Bernard - 1991

Book / Working Paper

Intramarginal Intervention in the EMS and the Target-Zone Model of Exchange-Rate Behavior

Dominguez, Kathryn M.; Kenen, Peter B. - 2021

Empirical work on exchange-rate behavior under a target-zone regime has used data produced by the European Monetary System (ENS) and has found that the data contradict important predictions made by the standard target-zone model. We argue that the contradictions reflect a misinterpretation of...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013219704

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Intramarginal Intervention in the EMS and the Target-Zone Model of Exchange-Rate Behavior

Dominguez, Kathryn M. - 1991

Book / Working Paper

A Risk Allocation Approach to Optimal Exchange Rate Policy

Strand, Jon; Mundaca, B. Gabriela - 2021

We derive the optimal exchange rate policy for a small open economy subject to terms-of-trade shocks. Firm owners and workers are risk averse but workers more so. Wages are given or partially indexed in the short run, and capital markets are imperfect. The government sets the exchange rate to...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013318822

How to Run a Target Zone? Age-Old Lessons from an Austro-Hungarian Experiment

Flandreau, Marc; Komlos, John - 2021

This paper considers what we argue was the first experiment of an exchange rate band. This experiment took place in Austria-Hungary between 1896 and 1914. The rationale for introducing this policy rested on precisely those intuitions that modern target zone literature has recently emphasized:...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013320805

Violations of the `Rules of the Game' and the Credibility of the Classical Gold Standard, 1880-1914

Bordo, Michael D.; MacDonald, Ronald - 2021

This paper examines the recently noted finding that the Classical gold standard represented a credible, well-behaved target zone system from the perspective of the well-documented failure of countries to play by the rules of the game in the classical period. In particular, we test an hypothesis...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013239352

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Violations of the `Rules of the Game' and the Credibility of the Classical Gold Standard, 1880-1914

Bordo, Michael D. - 1997

Book / Working Paper

The existential trilemma of the EMU in a fiscal target-zone model

Della Posta, Pompeo; Tamborini, Roberto - 2021

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013170849

iCurrency?

Kakushadze, Zura; Yu, Willie - 2019

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012204263

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iCurrency?

Kakushadze, Zura - 2020

Book / Working Paper

Option pricing: channels, target zones and sideways markets

Kakushadze, Zura - 2020

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012813830

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Option Pricing : Channels, Target Zones and Sideways Markets

Kakushadze, Zura - 2020

Book / Working Paper

The valuation of currency call options in selected target zones : a theoretical formulation

Abraham, Rebecca - 2020

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012510293

Public debt sustainability in a target zone model with heterogeneous agents

Della Posta, Pompeo - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014431593

Pandemic, tourism, and the economy : a tourism-revenue target zone approach

Tai, Meng-Yi; Hu, Shih-Wen; Chao, Chi-Chur - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014393100

Can one hear the shape of a target zone?

Arcand, Jean-Louis L.; Kumar, Shekhar Hari; Hongler, … - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014366799

Does an inflation target zone help or hinder price stability?

Della Posta, Pompeo; Tamborini, Roberto - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014472407

Quantitative Modelling of the EUR/CHF Exchange Rate During the Target Zone Regime of September 2011 to January 2015 : A Correction

Hertrich, Markus - 2019

Lera and Sornette (2016) derive an analytical expression for the conditional volatility of the (unobservable) economic fundamental in Krugman (1991)'s target zone model by locally inverting the relation between the exchange rate and its fundamental value, such that it can be modelled as a...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012859827

Taking the Fed at its word : direct estimation of central bank objectives using text analytics

Shapiro, Adam Hale; Wilson, Daniel J. - 2019

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011977485

The stabilizing effect of the zero lower bound : a perspective of interest rate target zones

Lu, You-Xun - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013334722

The revival of target zone modeling

Della Posta, Pompeo - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013455614

Protecting pegged currency markets from speculative investors

Neuman, Eyal; Schied, Alexander - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012815970

Optimal Trading with General Signals and Liquidation in Target Zone Models

Belak, Christoph - 2018

We study optimal trading in an Almgren-Chriss model with running and terminal inventory costs and general predictive signals about price changes. As a special case, this allows to treat optimal liquidation in “target zone models”: asset prices with a reflecting boundary enforced by...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012913571

Constrained stochastic processes in complex socio-economic systems

Lera, Sandro C. - 2018

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011892465

Informal one-sided target zone model and the Swiss franc

Chen, Yu-Fu; Funke, Michael; Moessner, Richhild - 2018

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011972003

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Informal one-sided target zone model and the Swiss franc

Chen, Yu-Fu; Funke, Michael; Moessner, Richhild - 2017

Book / Working Paper

Informal One-Sided Target Zone Model and the Swiss Franc

Chen, Yu-Fu - 2017

Book / Working Paper

FX Options in Target Zone

Carr, Peter - 2017

In this note we discuss - in what is intended to be a pedagogical fashion - FX option pricing in target zones with attainable boundaries. The boundaries must be reflecting. The no-arbitrage requirement implies that the differential (foreign minus domestic) short-rate is not deterministic. When...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012970528

On the sustainability of exchange rate target zones with central parity realignments

Martínez-García, Enrique - 2015

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011432313

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On the Sustainability of Exchange Rate Target Zones with Central Parity Realignments

Martínez-García, Enrique - 2017

Book / Working Paper

On the Sustainability of Exchange Rate Target Zones with Central Parity Realignments

Martínez-García, Enrique - 2015

Book / Working Paper

An Explicit Mapping of Currency Target Zone Models to Option Prices

Lera, Sandro Claudio - 2017

Currency target zones have been under scrutiny for the past three decades, which led to the development of two broad classes of quantitative models: Phenomenological ones that explicitly take into consideration the market's perception of the bounded exchange rate, and more mechanical ones that...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012943552

Can exchange rate dynamics in Krugman's target-zone model be directly tested?

Hui, Cho H.; Lo, Chi-Fai; Chau, Po-Hon - 2017

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012201200

Exchange rate dynamics under a currency board when policy rates are zero

Hui, Cho H.; Li, Ka Fai; Lo, Chi-Fai - 2017

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012201608

The Swiss franc's honeymoon

Janssen, Alexandra; Studer, Rahel - 2017 - Revised version, January 2017

Starting from the stylized fact that the Swiss franc is a safe haven currency, this paper focuses on the determinants of the Swiss franc during the lower bound regime from September 2011 to January 2015. We describe the Swiss franc as a function of global market risk fundamentals and find that...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011590470

On the singular control of exchange rates

Ferrari, Giorgio; Vargiolu, Tiziano - 2020

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012290842

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On the singular control of exchange rates

Ferrari, Giorgio; Vargiolu, Tiziano - 2017

Book / Working Paper

A Markov chain approximation scheme for option pricing under skew diffusions

Ding, Kailin; Cui, Zhenyu; Wang, Yongjin - 2021

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012483834

Modeling the Exchange Rates in a Target Zone by Reflected Ornstein-Uhlenbeck Process

Yang, Xuewei - 2016

In this paper, we model the exchange rate in a target zone by a so-called reflected Ornstein-Uhlenbeck process. A simulation-based maximum likelihood estimation strategy of the parameters involved in the model is proposed and studied. The model fits data on exchange rates in the European...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013008046

Exchange Rate Dynamics in a Target Zone : A Heterogeneous Expectations Approach

Bauer, Christian - 2016

We present a simple behavioral model with chartists and fundamentalists and analyze their trading behavior in a floating regime and in a target zone regime. Regarding the floating regime the model replicates the well-known stylized facts like excessive volatility, fat tails, volatility...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012991144