Optimal Exchange Rate Targets and Macroeconomic Stabilization

Enrique Alberola

Working Papers from Banco de España

Abstract: Exchange rate targets in a stabilization game are considered. The targeting strategy consists on the choice of a desired level for the exchange and the weight assigned to such target in the loss function. The exchange rate target appears then as an intermediate objective and acts as a surrogate to policy coordination.

Keywords: EXCHANGE RATE; MACROECONOMICS; CURRENCIES (search for similar items in EconPapers)
JEL-codes: F30 F31 F39 (search for similar items in EconPapers)
Pages: 34 pages
Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:bde:wpaper:9615

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