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A model for exchange rates with crawling bands—an application to the Colombian peso

✍ Scribed by Chris Brooks; Alejandro H. Revéiz

Book ID
117320554
Publisher
Elsevier Science
Year
2002
Tongue
English
Weight
496 KB
Volume
54
Category
Article
ISSN
0148-6195

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## Abstract Many asset prices, including exchange rates, exhibit periods of stability punctuated by infrequent, substantial, often one‐sided adjustments. Statistically, this generates empirical distributions of exchange rate changes that exhibit high peaks, long tails, and skewness. This paper intr