Reserve uncertainty and speculative attacks on target zones *
نویسنده
چکیده
Contrary to a peg, the sustainability of a currency band is enhanced by uncertainty about the availability of a secondary reserve. Furthermore, the critical size of reserves necessary to support a target zone is a decreasing function of the band upper boundary. 2001 Elsevier Science B.V. All rights reserved.
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تاریخ انتشار 2000