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by Kathryn Dominguez,Jeffrey Frankel

Download Does Foreign Exchange Intervention Work? eBook
ISBN:
0881321044
Author:
Kathryn Dominguez,Jeffrey Frankel
Category:
Social Sciences
Language:
English
Publisher:
Peterson Institute for International Economics (September 1, 1993)
Pages:
192 pages
EPUB book:
1487 kb
FB2 book:
1895 kb
DJVU:
1593 kb
Other formats
azw lrf txt doc
Rating:
4.2
Votes:
130


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Kathryn M. Dominguez and Jeffrey A. Frankel. 173 Recent Books intervention policy issues, assessing intervention's effectiveness and inter- vention in the 1980s. Institute for International Eco- nomics, 1993. Economic Growth and Business Cycles.

Does Foreign-Exchange Intervention Work? by Jeffrey A. Frankel and Kathryn Mary Dominguez.

This paper studies the relative effectiveness of foreign exchange intervention in spot and derivatives markets. We use Brazilian data where spot and nondeliverable futures intervention have been used in tandem for more than a decade. In line with theory, the impact of spot intervention is strikingly similar to that of futures intervention when convertibility risk is limited. We show that both types of interventions also affect the level and the price of hedging risk in the foreign exchange market

The time is ripe for a re-examination of the question whether foreign exchange intervention can affect the exchange rate. Dominguez, Kathryn .

The time is ripe for a re-examination of the question whether foreign exchange intervention can affect the exchange rate. and Frankel, Jeffrey . Does Foreign Exchange Intervention Matter? Disentangling the Portfolio and Expectations Effects for the Mark (March 1990). NBER Working Paper No. w3299. Dominguez (Contact Author).

Start by marking Does Foreign Exchange Intervention Work? as. .Authors Dominguez and Frankel draw implications for intervention policy and its role in international economic policy coordination.

Start by marking Does Foreign Exchange Intervention Work? as Want to Read: Want to Read savin. ant to Read.

With Kathryn Dominguez: Does Foreign Exchange Intervention Work? . Appears in condensed form as "Foreign Exchange Intervention: An Empirical Assessment," chapter 16 in Frankel, On Exchange Rates (MIT Press, Cambridge MA), 1993.

With Kathryn Dominguez: Does Foreign Exchange Intervention Work? (Institute for International Economics, Washington, . Abridged version of CIDER WP No. C92-001, . Reprinted in Foreign Exchange Intervention: Objectives and Effectiveness, Sylvester Eijffinger, ed. (Edward Elgar Publ.

Just better Does Foreign Exchange Intervention Work?, with Kathryn Mary Dominguez, Institute for International Economics (1993). Regional Trading Blocs in the World Economic System, with Ernesto Stein and Shang-Jin Wei, Institute for International Economics, (1997).

Jeffrey Alexander "Jeff" Frankel is an international macroeconomist. lt;/p

How much impact on exchange rates do central banks have when they buy and sell currencies? According to many analysts, such intervention has no independent impact. This book challenges the conventional wisdom, demonstrating that such intervention can be an effective and extremely important tool for policymakers. Using previously unavailable daily intervention data from the US Federal Reserve and German Bundesbank, the authors show that even "sterilized" intervention -intervention that entails no corresponding changes in monetary policy- has a significant effect. A key element is whether the intervention is known to the public: widespread market awareness of the activity adds substantially to its payoff. Authors Dominguez and Frankel draw implications for intervention policy and its role in international economic policy coordination.