Optimal target zones

DOI10.1016/0165-1889(95)00908-6MaRDI QIDQ671547zbMATH OpenOpenAlexFDO

Authors Marcus Miller, Lei Zhang

Publication date 27 February 1997

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/0165-1889(95)00908-6

zbMATH Keywords

Exchange rate mechanismRegulated Brownian motionTarget zonesTime-consistent policy

Mathematics Subject Classification ID

Economic growth models (91B62)

Recommendations

• Limited reserves and the optimal width of an exchange rate target zone
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Cites work

• A simplified treatment of the theory of optimal regulation of Brownian motion
• Existence of Optimal Simple Policies for Discounted-Cost Inventory and Cash Management in Continuous Time
• How Should Control Theory Be Used to Calculate a Time-Consistent Government Policy?
• scientific article; zbMATH DE number 3924501 (Why is no real title available?)
• Impulse Control of Brownian Motion
• Instantaneous Control of Brownian Motion

Cited in

(11)

• The scope for monetary independence in exchange rate target zones broad and narrow
• Optimal Central Bank intervention in the foreign exchange market
• When do target zones work? An examination of exchange rate targeting as a device for coordinating economic policies
• Narrow target zones within broad zones: A non-speculative exchange rate solution with limited resources
• Credibility and interest rate discretion in the ERM
• A zero-sum game between a singular stochastic controller and a discretionary stopper
• Limited reserves and the optimal width of an exchange rate target zone
• The revival of target zone modeling
• The European Exchange Rate Mechanism as a macroecotiomic destabilizer
• A disutility-based drift control for exchange rates
• On the long-run average cost minimization problem of the stochastic production-inventory models

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