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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/19688Full metadata record
| DC Field | Value | Language |
|---|---|---|
| dc.creator | Bauer, Christian | - |
| dc.creator | De Grauwe, Paul | - |
| dc.creator | Reitz, Stefan | - |
| dc.date | 2007 | - |
| dc.date.accessioned | 2013-10-16T07:06:17Z | - |
| dc.date.available | 2013-10-16T07:06:17Z | - |
| dc.date.issued | 2013-10-16 | - |
| dc.identifier | http://hdl.handle.net/10419/19688 | - |
| dc.identifier | ppn:534694829 | - |
| dc.identifier | RePEc:zbw:bubdp1:5864 | - |
| dc.identifier.uri | http://koha.mediu.edu.my:8181/xmlui/handle/10419/19688 | - |
| dc.description | We present a simple behavioral model with chartists and fundamentalists and analyze their trading behavior in a floating regime and in a target zone regime. Regarding the floating regime the model replicates the well-known stylized facts like excessive volatility, fat tails, volatility clustering and the exchange rate disconnect. When introducing a credible target zone the exchange rate remains for a considerably long period in the center of the band albeit the fundamental exchange rate does not exhibit mean reversion tendencies. The resulting hump-shaped distribution of the exchange rate greatly reduces the frequency of central bank intervention. The introduction of a target zone regime significantly reduces exchange rate volatility by decreasing speculative activity in the FX market. | - |
| dc.language | eng | - |
| dc.relation | Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2007,11 | - |
| dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | - |
| dc.subject | F31 | - |
| dc.subject | F41 | - |
| dc.subject | ddc:330 | - |
| dc.subject | Exchange rate | - |
| dc.subject | heterogeneous agents | - |
| dc.subject | target zones | - |
| dc.subject | Wechselkurs | - |
| dc.subject | Target Zone | - |
| dc.subject | Wertpapierhandel | - |
| dc.subject | Anlageverhalten | - |
| dc.subject | Agent-based Model | - |
| dc.subject | Theorie | - |
| dc.title | Exchange rate dynamics in a target zone: a heterogeneous expectations approach | - |
| dc.type | doc-type:workingPaper | - |
| Appears in Collections: | EconStor | |
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