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The Federal Reserve as an Informed Foreign-Exchange Trader : 1973-1995
Bordo, Michael D. - 2011
If official interventions convey private information useful for price discovery in foreign-exchange markets, then they should have value as a forecast of near-term exchange-rate movements. Using a set of standard criteria, we show that approximately 60 percent of all U.S. foreign-exchange...
Persistent link: https://www.econbiz.de/10013120732
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Flexible Inflation Targets, Forex Interventions and Exchange Rate Volatility in Emerging Countries
Berganza, Juan Carlos - 2011
Emerging economies with inflation targets (IT) face a dilemma between fulfilling the theoretical conditions of strict …
Persistent link: https://www.econbiz.de/10013124593
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Inflation Target in Emerging Countries : Modeling Exchange Rate Issues
Reyes, Javier A. - 2011
The idea of inflation targeting in emerging countries is not a new one. There have been papers that favor or reject the … done and what problems can arise. Therefore this paper focuses on exchange rate issues for inflation targeting. These … issues have their root in the basic relation that exists in emerging countries between inflation and the exchange rate, a …
Persistent link: https://www.econbiz.de/10013124931
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Modeling Sterilized Interventions and Balance Sheet Effects of Monetary Policy in a New-Keynesian Framework
Beneš, Jaromír - 2013
We study a wide range of hybrid inflation-targeting (IT) and managed exchange rate regimes, analyzing their … implications for inflation, output and the exchange rate in the presence of various domestic and external shocks. To this end, we …
Persistent link: https://www.econbiz.de/10013085989
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Lessons on the 'Impossible Trinity'
Moreno, Ramon - 2013
This is one of the contributions which is part of BIS Paper 68 and which was presented at the BIS-sponsored sessions at the Latin American and Caribbean Economic Association (LACEA) meetings in 2010-11, focusing on the drivers and effects of capital flows and the challenges they pose for the...
Persistent link: https://www.econbiz.de/10013088038
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Living with Capital Inflows
de Gregorio, Jose - 2013
This is one of the contributions which is part of BIS Paper 68 and which was presented at the BIS-sponsored sessions at the Latin American and Caribbean Economic Association (LACEA) meetings in 2010-11, focusing on the drivers and effects of capital flows and the challenges they pose for the...
Persistent link: https://www.econbiz.de/10013088042
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The Influence of External Factors on Monetary Policy Frameworks and Operations
Rossini, Renzo - 2014
economic and financial conditions in EMEs. This complicates the assessment of the outlook for inflation and growth. It also …
Persistent link: https://www.econbiz.de/10013067067
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Foreign Exchange Interventions Under a One-Sided Target Zone Regime and the Swiss Franc
Hertrich, Markus - 2020
From September 2011 to January 2015, the Swiss National Bank (SNB) implemented a minimum exchange rate regime (i.e. a one-sided target zone) vis- à-vis the euro to fight deflationary pressures in the aftermath of the Great Financial Crisis. During this period of unconventional monetary policy,...
Persistent link: https://www.econbiz.de/10012840088
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Yemen : Exchange Rate Policy in the Face of Dwindling Oil Exports
Chami, Saade - 2007
with the equilibrium exchange rate. In light of strong pass-through from exchange rate depreciation to domestic inflation …
Persistent link: https://www.econbiz.de/10012777902
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How Can Financial Constraints Force a Central Bank to Exit a Currency Peg? An Application to the Swiss Franc Peg
Pinter, Julien - 2019
going insolvent if they want to maintain control over inflation. In this paper, we analyze how such constraints can weigh on … have done absent such concerns. We detail under which conditions such reasoning can apply for a traditional inflation …
Persistent link: https://www.econbiz.de/10012889852