Flood, Robert P. <br/><br/>
Explanations of Exchange Rate Volatility and Other Empirical Regularities in Some Popular Models of the Foreign Exchange Market / 
Robert P. Flood. 
 - Cambridge, Mass.  National Bureau of Economic Research  1981. 
 - 1 online resource:  illustrations (black and white); 
 - NBER working paper series  no. w0625 .
 - Working Paper Series (National Bureau of Economic Research)  no. w0625. .
<br/><br/> February 1981. 
<br/><br/> The present paper is intended to accomplish two tasks. First, models predicting overshooting and magnification, respectively, will be checked for their consistency with two key empirical regularities: A. The observed pattern of price level vs. exchange-rate volatility. B. The observed pattern of spot exchange-rate vs. forward exchange-rate volatility. Second, a widely neglected reason for exchange-rate volatility, activist monetary policy, will be studied. 
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