Title page for etd-0627114-010125


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URN etd-0627114-010125
Author Jyun-Siang Li
Author's Email Address No Public.
Statistics This thesis had been viewed 5537 times. Download 462 times.
Department Economics
Year 2013
Semester 2
Degree Master
Type of Document
Language zh-TW.Big5 Chinese
Title Exchange Rate Target Zones and Policy Uncertainty:
Heterogeneous Expectation on the Trend
Date of Defense 2014-07-21
Page Count 51
Keyword
  • Exchange Rate Target Zones
  • Target Zone Policy
  • Honeymoon Effect
  • Heterogeneous Expectations
  • Abstract This thesis discusses how the public’s expectations of the exchange rate affect the stabilizing performance of the target zone. The model developed in this thesis is based on Krugman (1988) (1991), Flood and Garber (1991), Froot and Obstfeld (1991a; 1991b), and Bertola and Caballero (1992). In departing from these existing studies, our model introduces the public’s heterogeneous expectations on the random disturbance of money demand. With this feature, we find that whether the “honeymoon effect” of exchange-rate target zones is valid depends crucially upon the relative size between the public’s heterogeneous expectations on the random disturbances and the policy maker's credibility. In particular, we show that the Bertola and Caballero (1992) result is a special case of our analysis.
    Advisory Committee
  • Chung-Rou Fang - chair
  • Shul-John Li - co-chair
  • Ching-Chong Lai - advisor
  • Files
  • etd-0627114-010125.pdf
  • Indicate in-campus at 1 year and off-campus access at 1 year.
    Date of Submission 2014-07-28

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