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- W1499202321 abstract "A model of the spot market for foreign exchange is used to study the behavior of exchange rates, official reserves, and speculators' profits when exchange rates are flexible, pegged, and regulated by gliding-parity rules based on averages of spot rates, levels and changes in reserves, and the basic balance. The behavior of the spot rate and efficacy of various gliding-parity rules is shown to depend on the way that speculators form expectations. Some rules, however, are more efficient in minimizing fluctuations of exchange rates and trade volume, especially rules based on changes in reserves and averages of past market rates. Rules based on levels of reserves prove to be least efficient." @default.
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- W1499202321 date "1975-05-01" @default.
- W1499202321 modified "2023-09-27" @default.
- W1499202321 title "Floats, glides and indicators" @default.
- W1499202321 doi "https://doi.org/10.1016/0022-1996(75)90001-x" @default.
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