高级国际金融学教程习题答案ch8ans文档.pdfVIP

Foundations of International Macroeconomics1 Workbook2 Maurice Obstfeld, Kenneth Rogoff, and Gita Gopinath Chapter 8 Solutions 1. First think about the continuous-time case. At time t = 0 the market believes the governmentís promise that it will peg the exchange rate at its t = T level from time T onward. In that case, we can show that the exchange rate is indeterminate, so that the governmentís policy is not coherent (in that it does not ti