Skip to Main content Skip to Navigation
Preprints, Working Papers, ...

Target zones in History and Theory : efficiency, credibility and policy autonomy

Abstract : 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.
Document type :
Preprints, Working Papers, ...
Complete list of metadata

Cited literature [34 references]  Display  Hide  Download

https://hal-sciencespo.archives-ouvertes.fr/hal-01065605
Contributor : Spire Sciences Po Institutional Repository Connect in order to contact the contributor
Submitted on : Thursday, September 18, 2014 - 12:11:49 PM
Last modification on : Tuesday, October 11, 2016 - 1:29:12 PM
Long-term archiving on: : Friday, December 19, 2014 - 1:01:58 PM

File

cfi-wp-mf-cepr5199.pdf
Files produced by the author(s)

Identifiers

  • HAL Id : hal-01065605, version 1
  • SCIENCESPO : 2441/602

Collections

Citation

Marc Flandreau, John Komlos. Target zones in History and Theory : efficiency, credibility and policy autonomy. 2005. ⟨hal-01065605⟩

Share

Metrics

Les métriques sont temporairement indisponibles