TY  - JOUR
AU  - Flood,Robert P.
TI  - Explanations of Exchange Rate Volatility and Other Empirical Regularities in Some Popular Models of the Foreign Exchange Market
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 625
PY  - 1981
Y2  - February 1981
UR  - http://www.nber.org/papers/w0625
L1  - http://www.nber.org/papers/w0625.pdf
N1  - Author contact info:
Robert Flood
Notre Dame
E-Mail: rflood1@nd.edu
AB  - The present paper is intended to accomplish two tasks. First, models predicting overshooting and magnification, respectively, will be checked for their consistency with two key empirical regularities: A. The observed pattern of price level vs. exchange-rate volatility. B. The observed pattern of spot exchange-rate vs. forward exchange-rate volatility. Second, a widely neglected reason for exchange-rate volatility, activist monetary policy, will be studied.
ER  -