How Credible is Hong Kong's Currency Peg?
收藏NBER2025-09-01 更新2025-10-04 收录
下载链接：
https://www.nber.org/papers/w34300
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资源简介：
This paper develops an asset-pricing model to evaluate the credibility of Hong Kongs Linked Exchange Rate System (LERS). Allowing for imperfect peg credibility, we derive closed-form solutions for exchange rates and option prices under potential regime shifts. Using HKD option data, we estimate
提供机构：
美国国家经济研究局
创建时间：
2025-09-01
