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Optimal Target Zone and Stability Tradeoff
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Jeong, ChanWoo | - |
dc.date.accessioned | 2009-01-23T01:49:31Z | - |
dc.date.available | 2009-01-23T01:49:31Z | - |
dc.date.issued | 2000-01 | - |
dc.identifier.citation | Seoul Journal of Economics, Vol.13 No.1, pp. 49-68 | - |
dc.identifier.issn | 1225-0279 | - |
dc.identifier.uri | https://hdl.handle.net/10371/1192 | - |
dc.description.abstract | Conventional literature on exchange rates largely ignores
normative issues of the target zone regime. This paper builds a model for the optimal target zone and consider s whether the target zone is desired compared to other exchange rate regimes. The paper find s that when the central bank's objective is to minimize the sum of price and output variances. a target zone regime is superior to a fixed or floating exchange rate. In determining the band width, a tradeoff exists between output and price stability, with a wider band producing smaller output variability and larger price variability. | - |
dc.language.iso | en | - |
dc.publisher | Institute of Economic Research, Seoul National University | - |
dc.subject | target zone regime | - |
dc.subject | band width | - |
dc.subject | price stability | - |
dc.title | Optimal Target Zone and Stability Tradeoff | - |
dc.type | SNU Journal | - |
dc.contributor.AlternativeAuthor | 정찬우 | - |
dc.citation.journaltitle | Seoul Journal of Economics | - |
dc.citation.endpage | 68 | - |
dc.citation.number | 1 | - |
dc.citation.pages | 49-68 | - |
dc.citation.startpage | 49 | - |
dc.citation.volume | 13 | - |
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