The Crawling Peg and Exchange Rate Uncertainty

Donald V. Coes

Chapter 5 in Exchange Rate Rules, 1981, pp 113-139 from Palgrave Macmillan

Abstract: Abstract The recognition of the potential effects of uncertainty on economic behaviour has had a strong impact in the past decade on international economic theory, which now abounds with comparisons of behaviour under uncertainty with the predictions of traditional non-stochastic models (Batra, 1975; Brainard and Cooper, 1968; Helpman and Razin, 1978; Kemp and liviatan, 1973; Mayer, 1975; Ruffin 1974a and 1974b; and Turnovsky, 1974). Despite the generally convincing theoretical demonstration that uncertainty can matter, however, empirical support for the view that it in fact does matter is still scanty and unsatisfactory.

Keywords: Exchange Rate; Real Exchange Rate; Exchange Rate Regime; Nominal Exchange Rate; Commercial Policy (search for similar items in EconPapers)
Date: 1981
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DOI: 10.1007/978-1-349-05166-3_6

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