Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/94260
Authors: 
Mizrach, Bruce
Year of Publication: 
1996
Series/Report no.: 
Working Papers, Department of Economics, Rutgers, The State University of New Jersey 1995-25
Abstract: 
Time series evidence on exchange rates has been unable to reject the random walk hypothesis. A simple structural model that accounts for target zone nonlinearities provides conclusive evidence of mean reversion in EMS exchange rates.
Subjects: 
EMS
target zone
unit roots
JEL: 
C22
F31
Document Type: 
Working Paper

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