Target zones in History and Theory : efficiency, credibility and policy autonomy
Résumé
A natural experiment with an exchange-rate band in Austria-Hungary in the early 20th century provides a rare opportunity to discuss critical aspects of the theory of target zones. Providing a new derivation of the target zone model as a set of nested hypotheses, the inference is drawn that policy credibility and market efficiency were paramount in the success of the Austro-Hungarian experience.
Domaines
Economies et finances
Origine : Fichiers produits par l'(les) auteur(s)
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