Soft Exchange Rate Bands and Speculative Attacks: Theory, and Evidence From the ERM Since August 1993
Saved in:
Staff View
MARC
LEADER | 00000nam a2200000 cb4500 | ||
---|---|---|---|
001 | BV048347746 | ||
003 | DE-604 | ||
005 | 00000000000000.0 | ||
007 | cr|uuu---uuuuu | ||
008 | 220713s1998 xx o|||| 00||| eng d | ||
020 | |a 1451857373 |c 15.00 USD |9 1-451-85737-3 | ||
020 | |a 9781451857375 |c 15.00 USD |9 978-1-451-85737-5 | ||
035 | |a (ZDB-1-IMF)845875019 | ||
035 | |a (OCoLC)1337130673 | ||
035 | |a (DE-599)BVBBV048347746 | ||
040 | |a DE-604 |b ger | ||
041 | 0 | |a eng | |
049 | |a DE-20 |a DE-824 |a DE-70 |a DE-155 |a DE-29 |a DE-22 |a DE-473 |a DE-1102 |a DE-703 |a DE-859 |a DE-706 |a DE-384 |a DE-860 |a DE-19 |a DE-739 |a DE-355 |a DE-Aug4 |a DE-1049 |a DE-12 |a DE-91 | ||
100 | 1 | |a Bartolini, Leonardo |e Verfasser |4 aut | |
245 | 1 | 0 | |a Soft Exchange Rate Bands and Speculative Attacks |b Theory, and Evidence From the ERM Since August 1993 |c Bartolini, Leonardo |
264 | 1 | |a Washington, D.C |b International Monetary Fund |c 1998 | |
300 | |a 1 Online-Ressource (29 p) | ||
336 | |b txt |2 rdacontent | ||
337 | |b c |2 rdamedia | ||
338 | |b cr |2 rdacarrier | ||
490 | 0 | |a IMF Working Papers |v Working Paper No. 98/156 | |
520 | 3 | |a We present a model of a "soft" exchange rate target zone and interpret it as a stylized description of the post-August 1993 ERM. Our central bank targets a moving average of the current and past exchange rates, rather than the exchange rate's current level, thus allowing the rate to move within wide margins in the short run, but within narrow margins in the long run. For realistic parameters, soft target zones are significantly less vulnerable to speculative attacks than "hard" target zones. These predictions are consistent with the ERM's experience and the abatement of speculative pressure in European markets since the bands' widening in 1993 | |
533 | |a Online-Ausg | ||
700 | 1 | |a Prati, Alessandro |e Sonstige |4 oth | |
856 | 4 | 0 | |u http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml |x Verlag |z URL des Erstveröffentlichers |3 Volltext |
912 | |a ZDB-1-IMF | ||
943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-033727014 | |
966 | e | |u http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml |l DE-20 |p ZDB-1-IMF |x Verlag |3 Volltext | |
966 | e | |u http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml |l DE-824 |p ZDB-1-IMF |x Verlag |3 Volltext | |
966 | e | |u http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml |l DE-70 |p ZDB-1-IMF |x Verlag |3 Volltext | |
966 | e | |u http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml |l DE-155 |p ZDB-1-IMF |x Verlag |3 Volltext | |
966 | e | |u http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml |l DE-29 |p ZDB-1-IMF |x Verlag |3 Volltext | |
966 | e | |u http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml |l DE-22 |p ZDB-1-IMF |x Verlag |3 Volltext | |
966 | e | |u http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml |l DE-473 |p ZDB-1-IMF |x Verlag |3 Volltext | |
966 | e | |u http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml |l DE-1102 |p ZDB-1-IMF |x Verlag |3 Volltext | |
966 | e | |u http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml |l DE-703 |p ZDB-1-IMF |x Verlag |3 Volltext | |
966 | e | |u http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml |l DE-859 |p ZDB-1-IMF |x Verlag |3 Volltext | |
966 | e | |u http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml |l DE-706 |p ZDB-1-IMF |x Verlag |3 Volltext | |
966 | e | |u http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml |l DE-384 |p ZDB-1-IMF |x Verlag |3 Volltext | |
966 | e | |u http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml |l DE-860 |p ZDB-1-IMF |x Verlag |3 Volltext | |
966 | e | |u http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml |l DE-19 |p ZDB-1-IMF |x Verlag |3 Volltext | |
966 | e | |u http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml |l DE-739 |p ZDB-1-IMF |x Verlag |3 Volltext | |
966 | e | |u http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml |l DE-355 |p ZDB-1-IMF |x Verlag |3 Volltext | |
966 | e | |u http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml |l DE-Aug4 |p ZDB-1-IMF |x Verlag |3 Volltext | |
966 | e | |u http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml |l DE-1049 |p ZDB-1-IMF |x Verlag |3 Volltext | |
966 | e | |u http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml |l DE-12 |p ZDB-1-IMF |x Verlag |3 Volltext | |
966 | e | |u http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml |l DE-91 |p ZDB-1-IMF |x Verlag |3 Volltext |
Record in the Search Index
DE-BY-TUM_katkey | 2670706 |
---|---|
_version_ | 1821936395485184001 |
any_adam_object | |
author | Bartolini, Leonardo |
author_facet | Bartolini, Leonardo |
author_role | aut |
author_sort | Bartolini, Leonardo |
author_variant | l b lb |
building | Verbundindex |
bvnumber | BV048347746 |
collection | ZDB-1-IMF |
ctrlnum | (ZDB-1-IMF)845875019 (OCoLC)1337130673 (DE-599)BVBBV048347746 |
format | Electronic eBook |
fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>05117nam a2200589 cb4500</leader><controlfield tag="001">BV048347746</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">00000000000000.0</controlfield><controlfield tag="007">cr|uuu---uuuuu</controlfield><controlfield tag="008">220713s1998 xx o|||| 00||| eng d</controlfield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">1451857373</subfield><subfield code="c">15.00 USD</subfield><subfield code="9">1-451-85737-3</subfield></datafield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">9781451857375</subfield><subfield code="c">15.00 USD</subfield><subfield code="9">978-1-451-85737-5</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(ZDB-1-IMF)845875019</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)1337130673</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV048347746</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-20</subfield><subfield code="a">DE-824</subfield><subfield code="a">DE-70</subfield><subfield code="a">DE-155</subfield><subfield code="a">DE-29</subfield><subfield code="a">DE-22</subfield><subfield code="a">DE-473</subfield><subfield code="a">DE-1102</subfield><subfield code="a">DE-703</subfield><subfield code="a">DE-859</subfield><subfield code="a">DE-706</subfield><subfield code="a">DE-384</subfield><subfield code="a">DE-860</subfield><subfield code="a">DE-19</subfield><subfield code="a">DE-739</subfield><subfield code="a">DE-355</subfield><subfield code="a">DE-Aug4</subfield><subfield code="a">DE-1049</subfield><subfield code="a">DE-12</subfield><subfield code="a">DE-91</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Bartolini, Leonardo</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Soft Exchange Rate Bands and Speculative Attacks</subfield><subfield code="b">Theory, and Evidence From the ERM Since August 1993</subfield><subfield code="c">Bartolini, Leonardo</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Washington, D.C</subfield><subfield code="b">International Monetary Fund</subfield><subfield code="c">1998</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource (29 p)</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">IMF Working Papers</subfield><subfield code="v">Working Paper No. 98/156</subfield></datafield><datafield tag="520" ind1="3" ind2=" "><subfield code="a">We present a model of a "soft" exchange rate target zone and interpret it as a stylized description of the post-August 1993 ERM. Our central bank targets a moving average of the current and past exchange rates, rather than the exchange rate's current level, thus allowing the rate to move within wide margins in the short run, but within narrow margins in the long run. For realistic parameters, soft target zones are significantly less vulnerable to speculative attacks than "hard" target zones. These predictions are consistent with the ERM's experience and the abatement of speculative pressure in European markets since the bands' widening in 1993</subfield></datafield><datafield tag="533" ind1=" " ind2=" "><subfield code="a">Online-Ausg</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Prati, Alessandro</subfield><subfield code="e">Sonstige</subfield><subfield code="4">oth</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="u">http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml</subfield><subfield code="x">Verlag</subfield><subfield code="z">URL des Erstveröffentlichers</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-1-IMF</subfield></datafield><datafield tag="943" ind1="1" ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-033727014</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml</subfield><subfield code="l">DE-20</subfield><subfield code="p">ZDB-1-IMF</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml</subfield><subfield code="l">DE-824</subfield><subfield code="p">ZDB-1-IMF</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml</subfield><subfield code="l">DE-70</subfield><subfield code="p">ZDB-1-IMF</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml</subfield><subfield code="l">DE-155</subfield><subfield code="p">ZDB-1-IMF</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml</subfield><subfield code="l">DE-29</subfield><subfield code="p">ZDB-1-IMF</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml</subfield><subfield code="l">DE-22</subfield><subfield code="p">ZDB-1-IMF</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml</subfield><subfield code="l">DE-473</subfield><subfield code="p">ZDB-1-IMF</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml</subfield><subfield code="l">DE-1102</subfield><subfield code="p">ZDB-1-IMF</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml</subfield><subfield code="l">DE-703</subfield><subfield code="p">ZDB-1-IMF</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml</subfield><subfield code="l">DE-859</subfield><subfield code="p">ZDB-1-IMF</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml</subfield><subfield code="l">DE-706</subfield><subfield code="p">ZDB-1-IMF</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml</subfield><subfield code="l">DE-384</subfield><subfield code="p">ZDB-1-IMF</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml</subfield><subfield code="l">DE-860</subfield><subfield code="p">ZDB-1-IMF</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml</subfield><subfield code="l">DE-19</subfield><subfield code="p">ZDB-1-IMF</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml</subfield><subfield code="l">DE-739</subfield><subfield code="p">ZDB-1-IMF</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml</subfield><subfield code="l">DE-355</subfield><subfield code="p">ZDB-1-IMF</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml</subfield><subfield code="l">DE-Aug4</subfield><subfield code="p">ZDB-1-IMF</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml</subfield><subfield code="l">DE-1049</subfield><subfield code="p">ZDB-1-IMF</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml</subfield><subfield code="l">DE-12</subfield><subfield code="p">ZDB-1-IMF</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml</subfield><subfield code="l">DE-91</subfield><subfield code="p">ZDB-1-IMF</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield></record></collection> |
id | DE-604.BV048347746 |
illustrated | Not Illustrated |
indexdate | 2024-12-20T19:42:14Z |
institution | BVB |
isbn | 1451857373 9781451857375 |
language | English |
oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-033727014 |
oclc_num | 1337130673 |
open_access_boolean | |
owner | DE-20 DE-824 DE-70 DE-155 DE-BY-UBR DE-29 DE-22 DE-BY-UBG DE-473 DE-BY-UBG DE-1102 DE-703 DE-859 DE-706 DE-384 DE-860 DE-19 DE-BY-UBM DE-739 DE-355 DE-BY-UBR DE-Aug4 DE-1049 DE-12 DE-91 DE-BY-TUM |
owner_facet | DE-20 DE-824 DE-70 DE-155 DE-BY-UBR DE-29 DE-22 DE-BY-UBG DE-473 DE-BY-UBG DE-1102 DE-703 DE-859 DE-706 DE-384 DE-860 DE-19 DE-BY-UBM DE-739 DE-355 DE-BY-UBR DE-Aug4 DE-1049 DE-12 DE-91 DE-BY-TUM |
physical | 1 Online-Ressource (29 p) |
psigel | ZDB-1-IMF |
publishDate | 1998 |
publishDateSearch | 1998 |
publishDateSort | 1998 |
publisher | International Monetary Fund |
record_format | marc |
series2 | IMF Working Papers |
spellingShingle | Bartolini, Leonardo Soft Exchange Rate Bands and Speculative Attacks Theory, and Evidence From the ERM Since August 1993 |
title | Soft Exchange Rate Bands and Speculative Attacks Theory, and Evidence From the ERM Since August 1993 |
title_auth | Soft Exchange Rate Bands and Speculative Attacks Theory, and Evidence From the ERM Since August 1993 |
title_exact_search | Soft Exchange Rate Bands and Speculative Attacks Theory, and Evidence From the ERM Since August 1993 |
title_full | Soft Exchange Rate Bands and Speculative Attacks Theory, and Evidence From the ERM Since August 1993 Bartolini, Leonardo |
title_fullStr | Soft Exchange Rate Bands and Speculative Attacks Theory, and Evidence From the ERM Since August 1993 Bartolini, Leonardo |
title_full_unstemmed | Soft Exchange Rate Bands and Speculative Attacks Theory, and Evidence From the ERM Since August 1993 Bartolini, Leonardo |
title_short | Soft Exchange Rate Bands and Speculative Attacks |
title_sort | soft exchange rate bands and speculative attacks theory and evidence from the erm since august 1993 |
title_sub | Theory, and Evidence From the ERM Since August 1993 |
url | http://elibrary.imf.org/view/IMF001/06309-9781451857375/06309-9781451857375/06309-9781451857375.xml |
work_keys_str_mv | AT bartolinileonardo softexchangeratebandsandspeculativeattackstheoryandevidencefromtheermsinceaugust1993 AT pratialessandro softexchangeratebandsandspeculativeattackstheoryandevidencefromtheermsinceaugust1993 |