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Un modello caotico di determinazione del tasso di cambio in presenza di interventi sul mercato dei cambi e afflussi di capitale

Author

Listed:
  • Ahmad Naimzada

    (Department of Economics, University of Milan-Bicocca)

  • Giorgio Ricchiuti

    (University of Florence)

Abstract

Nel presente lavoro abbiamo costruito un modello di determinazione del tasso di cambio in presenza di agenti eterogenei (Banca Centrale, Investitori e Market Makers). Ampie fluttuazioni del tasso di cambio sono il risultato di dinamica endogena, in particolare scaturiscono dall’interazione della Banca Centrale, che interviene per stabilizzare il cambio intorno ad un livello obiettivo, e gli investitori-chartisti che guardano al differenziale fra il tasso di interesse interno ed estero. Per completare il modello, si è effettuato uno studio specifico assumendo che il comportamento degli agenti sia rappresentato da una funzione sigmoidale.

Suggested Citation

  • Ahmad Naimzada & Giorgio Ricchiuti, 2004. "Un modello caotico di determinazione del tasso di cambio in presenza di interventi sul mercato dei cambi e afflussi di capitale," Working Papers 82, University of Milano-Bicocca, Department of Economics, revised Nov 2004.
    • Handle: RePEc:mib:wpaper:82
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