01498cas a2200241 a 4500 AALejournalIMF010062 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451964936 1018-5941 BD-DhAAL BD-DhAAL International Monetary Fund. Targeting the Exchange Rate : Empirical Investigation. Washington, D.C. : International Monetary Fund, 1990. 1 online resource (34 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The purpose of this paper is to implement empirically the new theory of exchange rate targeting. The theory formulates an expectations induced relationship between the exchange rate and the fundamental subject to random shocks and target zone constraints. By using monthly data for a representative small-open economy (Israel in the 1980s) the empirical analysis identifies the special roled played by policy and market fundamentals in the behavior of the exchange rate. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1990/061 Full text available on IMF http://elibrary.imf.org/view/journals/001/1990/061/001.1990.issue-061-en.xml IMF e-Library