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Patterns of foreign exchange intervention under inflation targeting

Adler, Gustavo; Chang, Kyun Suk; Wang, Zijiao - 2020

The paper documents the use of foreign exchange intervention (FXI) across countries and monetary regimes, with special attention to its use under inflation targeting (IT). We find significant differences between advanced and emerging market economies, with the former group conducting FXI...

Persistent link: https://www.econbiz.de/10012251394

China's evolving exchange rate regime

Das, Sonali - 2019

China's exchange rate regime has undergone gradual reform since the move away from a fixed exchange rate in 2005. The renminbi has become more flexible over time but is still carefully managed, and depth and liquidity in the onshore FX market is relatively low compared to other countries with de...

Persistent link: https://www.econbiz.de/10012009461

Foreign Exchange Intervention and the Australian Dollar : Has it Mattered?

Liang, Hong - 2003

(RBA) have had on the level and volatility of the Australian dollar exchange rate. First, using an event study we evaluate … Australian dollar. Second, we investigate the effects of RBA intervention policies on exchange rate volatility over the floating … volatility, which suggests that official intervention may have added to market uncertainty. Overall, the effects of RBA …

Persistent link: https://www.econbiz.de/10014403823

Limiting Currency Volatility to Stimulate Goods Market Integration : A Price-Based Approach

Parsley, David C. - 2001

This paper studies the effect of instrumental and institutional stabilization of exchange rate volatility on the …

Persistent link: https://www.econbiz.de/10014401231

Structural Factors Affecting Exchange Rate Volatility : A Cross-Section Study

Canales Kriljenko, Jorge Iván - 2004

The paper examines factors affecting exchange rate volatility, with an emphasis on structural features of the foreign … exchange rate volatility. The paper also provides support for earlier results on the influence of macroeconomic conditions and … the choice of exchange rate regime on volatility …

Persistent link: https://www.econbiz.de/10014401319

FX intervention to stabilize or manipulate the exchange rate? : inference from profitability

Sandri, Damiano - 2020

We analyze the profitability of FX swaps used by the central bank of Brazil to shed light on the rationale for FX intervention. We find that swaps are profitable in expectation, suggesting that FX intervention is used to stabilize the exchange rate in the face of temporary excessive movements...

Persistent link: https://www.econbiz.de/10012251968

Global value chains and external adjustment : do exchange rates still matter?

Adler, Gustavo; Meleshchuk, Sergii; Osorio Buitron, Carolina - 2019

The paper explores how international integration through global value chains shapes the working of exchange rates to induce external adjustment both in the short and medium run. The analysis indicates that greater integration into international value chains reduces the exchange rate elasticity...

Persistent link: https://www.econbiz.de/10012155213

Comfort in floating : taking stock of twenty years of freely-floating exchange rate in Chile

Albagli, Elías; Calani, Mauricio; Hadzi-Vaskov, Metodij; … - 2020

Chile offers an example of a country that has overcome the fear of floating by reducing balance sheet mismatches, enhancing financial market development, as well as improving monetary, fiscal, and political institutions, and strengthening policy credibility. Under the floating regime, Chile's...

Persistent link: https://www.econbiz.de/10012252010

Monetary policy under an exchange rate anchor

El Hamiani Khatat, Mariam; Buessing-Loercks, Mark; … - 2020

This paper argues that there is scope for monetary policy under an exchange rate anchor, and discusses the related monetary policy design and implementation. It shows that the exchange rate can be used as the main monetary policy instrument while the policy rate can target the exchange rate. An...

Persistent link: https://www.econbiz.de/10012302036

Financial, Exchange Rate, and Wage Policies in Singapore, 1979-1886

International Monetary Fund - 1988

This paper discusses the unique aspects of Singapore’s financial, exchange rate, and wage policies during the period 1979-86, and attempts to quantify the impact of alternative policies on major macroeconomic variables. For this purpose, a simple short-term model is formulated and estimated,...

Persistent link: https://www.econbiz.de/10014395760

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