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Full-Text Articles in Social and Behavioral Sciences
Chaotic Exchange Rate Dynamics Redux, Sergio Da Silva
Chaotic Exchange Rate Dynamics Redux, Sergio Da Silva
Sergio Da Silva
This article generalizes the results shown in De Grauwe, Dewachter, and Embrechts (1993) in a more sophisticated framework. In their model, the speculative dynamics resulting from the interaction between chartists and fundamentalists are incorporated into a Dornbusch-style model to generate a chaotic nominal exchange rate. Here the model of Obstfeld and Rogoff (1995, 1996) replaces the Dornbusch model, and chaotic solutions are still shown to be possible for sensible parameter values.
Chaos And Exchange Rates, Sergio Da Silva
Chaos And Exchange Rates, Sergio Da Silva
Sergio Da Silva
This paper surveys the literature on chaos in exchange rates.