This paper studies the implications of the imperfect credibility of an exchange rate target zone on the term structure of forward premia. The relationship betwe

''In summary, the book is valuable as a textbook both at the advanced undergraduate level and at the graduate level. It is also very useful for the economist wh

This volume examines the intersection between a new analytical approach and a real economic problem.

The trade-off between interest rate variability and the width of an exchange rate target zone is examined, using the regulated Brownian motion model of target z