{"type": {"key": "/type/work"}, "title": "Exchange Rate Dynamics Under Stochastic Regime Shifts", "authors": [{"type": {"key": "/type/author_role"}, "author": {"key": "/authors/OL14956834A"}}, {"type": {"key": "/type/author_role"}, "author": {"key": "/authors/OL1452793A"}}, {"type": {"key": "/type/author_role"}, "author": {"key": "/authors/OL4614620A"}}], "description": {"type": "/type/text", "value": "Techniques of regulated Brownian motion are used to analyze the behavior of the exchange rate when official policy reaction functions are subject to future stochastic changes. We examine exchange-rate dynamics in alternative cases where the authorities promise (i) to confine a floating rate within a predetermined range and (ii) to peg the currency once it reaches a predetermined future level. Similarities between these and several related examples of regime switching are stressed"}, "key": "/works/OL46192544W", "latest_revision": 1, "revision": 1, "created": {"type": "/type/datetime", "value": "2026-11-10T14:09:45.311058"}, "last_modified": {"type": "/type/datetime", "value": "2026-11-10T14:09:45.311058"}}