Expected and Predicted Realignments: The FF/DM Exchange Rate During the EMS
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An empirical model of time-varying realignment risk in an exchange rate target zone is developed. Expected rates of devaluation are estimated as the difference between interest race differentials and estimated expected rates of depreciation within the exchange rate band, using French Franc/Deutsche
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美国国家经济研究局创建时间:
1991-04-01



