The cost of a central bank leaning against a random walk

• 30 September 1986
• journal article
• Published by Elsevier in Journal of International Money and Finance
• Vol. 5  (3) , 303-314
• https://doi.org/10.1016/0261-5606(86)90032-x

Abstract

Keywords

• MODEL
• CENTRAL BANK
• WALK
• STOCHASTIC
• LOSS
• SUMS
• LEANING
• TEMPORARILY
• CONTRADICTORY