Stone, Mark R.; Walker, W. Christopher; Yasui, Yosuke - International Monetary Fund (IMF) - 2009
The provision of foreign exchange liquidity by emerging market central banks during the global shock of 2008-09 departs … documents and analyzes the foreign exchange liquidity providing measures of the Banco Central do Brasil (BCB) in response to … seemed to stabilize market expectations of exchange rate volatility. The results suggest that foreign exchange liquidity …