HIGHLIGHTS
- who: Huimin Zhao and colleagues from the School of Business, Sun Yat-sen University, Guangzhou, China have published the research: Probability Analysis of Exchange Rate Target Zones, in the Journal: (JOURNAL)
- what: The aim of this paper is to show quantitative results for the exchange rate target zones in a small open economy. The authors develop a stochastic model for exchange rates under the equilibrium in goods and money markets based on a variation of Dornbusch 's model incorporating several kinds of macroeconomic shocks and a noneconomic factor ignored by literature. The Dynamic Model of . . .
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