Order Flow and the Real : Indirect Evidence of the Effectiveness of Sterilized Interventions

This study presents indirect evidence of the effectiveness of sterilized interventions in Brazil based on the complete records of daily customer order flow data reported by Brazilian dealers, as well as foreign exchange intervention data over a time span of 10 years (2002-2011). We find that the effect of USD sales by end-users on the BRL/USD was much stronger on days in which the BCB did not intervene in the spot foreign exchange market

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Year of publication:	2014
Authors:	Kohlscheen, Emanuel
Publisher:	[2014]: [S.l.] : SSRN
Subject:	Brasilien \| Brazil \| Wechselkurspolitik \| Exchange rate policy \| Wechselkurs \| Exchange rate

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Extent:	1 Online-Ressource (24 p)
Series:	BIS Working Paper ; No. 426
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments September 2013 erstellt
Classification:	E52 - Monetary Policy (Targets, Instruments, and Effects) ; E58 - Central Banks and Their Policies ; F31 - Foreign Exchange
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013059561