Now showing items 1-2 of 2

    • Bulls, Bears and Excess Volatility: can currency intervention help? 

      Corrado, Luisa; Miller, Marcus; Zhang, Lei (Faculty of Economics, University of Cambridge, UK, 2007-01)
      Asset mis-pricing may reflect investor psychology, with excess volatility arising from switches of sentiment. For a floating exchange rate where fundamentals follow a random walk, we show that excess volatility can be ...
    • Exchange Rate Monitoring Bands: Theory and Policy 

      Corrado, Luisa; Miller, Marcus; Zhang, Lei (2004-06-16)
      Recent empirical research by Mark Taylor and coauthors has found evidence of hybrid dynamics for real exchange rates. While there is a random walk near equilibrium, for real exchange rates some distance from equilibrium ...