Foreign exchange intervention : A new database

We construct a novel database of monthly foreign exchange interventions for 49 countriesover up to 22 years. We build on a text classification approach that extracts informationabout interventions from news articles and calibrate our procedure to data about actualinterventions. This new dataset allows us to document stylized facts about the use offoreign exchange interventions for countries that neither publish their data nor makethem available to researchers. Moreover, we provide evidence on how foreign exchangeinterventions are used in conjunction with capital controls and macroprudential policy