Two Notes on Indeterminacy Problems
|
NBER Working Paper No. 841
Issued in 1982
NBER Program(s): ITI IFM
In this paper we show, in an example, that the arbitrary behavior which results in an indeterminacy in the time path of a flexible exchange rate and is associated with "badly behaved" speculation has a manifestation under a regime of fixed rates in an indeterminacy in the time path of government holding of international reserves. Thus, to the extent that arbitrariness is characteristic of agents' behavior it is not resolve6 but only masked by the fixing of exchange rates.
Published: Flood, Robert P., Peter M. Garber, and Louis O. Scott. "Collapsing Exchange Rate Regimes: Some Linear Examples." Journal of International Economics, Volume 17, Issues 1-2, August 1984, Pages 1-13
This paper is available as PDF (198 K) or DjVu (156 K) (Download viewer) or via email.
Machine-readable bibliographic record -
MARC,
RIS,
BibTeX
|
|
|
About
Support
The research activities of the NBER are funded by grants from federal research agencies, by private foundations, and by generous donations from our corporate associates and from private individuals. The NBER is a non-profit, 501(c)(3) organization. For information on supporting the NBER, please contact:
Mr. Denis Healy, Director of Development
NBER
1050 Massachusetts Avenue
Cambridge, MA 02138-5398
ph: 617-868-3900
email: dhealy@nber.org
Close
