Imposing exchange controls to dampen currency speculation: Political risk and the French franc, 1976–1984
作者： Brian J. Cody
DOI: 10.1016/0014-2921(89)90067-6
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摘要: Abstract This work offers a portfolio model of exchange rate determination that embodies risk averse agents' expectations shifts in the government's control policy. The time-dependent probability imposition controls is shown to produce systematic variations political premium. examines effects French President Mitterand's May 1981 on dollar/franc rate. While dominates during vast majority sample period, large deviations premium are observed around time controls.
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sci-hub.se 参考文章(23)
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