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Hurley, Margaret J., McCormack, Pat and O'Brien, Stuart (1993) The Optimum Level of Reserves in an Exchange Rate Target Zone. Economic and Social Review, 25 (1). pp. 95-107. ISSN 0012-9984
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Abstract
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 defined boundary between a target zone that is subject to speculative
attack and one which is sustainable. This boundary is defined by whether reserves are
sufficient or not. This paper reviews briefly both the target zone and speculative attack
literature. The appropriate level of reserves for Ireland is then calculated and discussed.
| Item Type: | Article |
|---|---|
| Keywords: | Economics, Examples; Sociology; Rate Dynamics; Rate Regimes; Ireland |
| Academic Unit: | Faculty of Social Sciences > Economics, Finance and Accounting |
| Item ID: | 11413 |
| Depositing User: | Margaret Hurley |
| Date Deposited: | 24 Oct 2019 15:30 |
| Journal or Publication Title: | Economic and Social Review |
| Publisher: | ESRI |
| Refereed: | Yes |
| Related URLs: | |
| URI: | https://mural.maynoothuniversity.ie/id/eprint/11413 |
| Use Licence: | This item is available under a Creative Commons Attribution Non Commercial Share Alike Licence (CC BY-NC-SA). Details of this licence are available here |
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