Browsing Economic and Social Review by Subject "Target zones"

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  • The optimum level of reserves in an exchange rate target zone 

    Hurley, Margaret; McCormack, Pat; O'Brien, Stuart (Economic & Social Studies, Dublin, 1993)
    The target zone exchange rate literature, initiated by Krugman (1991), has relevance for the question of what is the optimal level of reserves. In particular, Krugman and Rotemberg (1990) show that there is a well defmed ...