Does Foreign Exchange Intervention Work?

Kathryn Dominguez, Jeffrey Frankel (Autoren)

Buch | Softcover

192 Seiten

1993
The Peterson Institute for International Economics (Verlag)
978-0-88132-104-3 (ISBN)

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How much impact on exchange rates do central banks have when they buy and sell currencies? According to many analysts, such intervention has no independent impact. This book challenges the conventional wisdom, demonstrating that such intervention can be an effective and extremely important tool for policymakers. Using previously unavailable daily intervention data from the US Federal Reserve and German Bundesbank, the authors show that even "sterilized" intervention -intervention that entails no corresponding changes in monetary policy- has a significant effect. A key element is whether the intervention is known to the public: widespread market awareness of the activity adds substantially to its payoff. Authors Dominguez and Frankel draw implications for intervention policy and its role in international economic policy coordination.

Kathryn M. Dominguez was a Visiting Fellow and Associate Professor of Public Policy at the John F. Kennedy School of Government, Harvard University. Jeffrey A. Frankel was a Visiting Fellow and Professor of Economics at the University of California at Berkely. He was formerly Senior Internaitonal Economist at the Council of Economic Advisers (1983-84).

Erscheint lt. Verlag	1.9.1993
Verlagsort	Washington
Sprache	englisch
Maße	159 x 234 mm
Gewicht	248 g
Themenwelt	Kunst / Musik / Theater ► Film / TV
	Sozialwissenschaften ► Politik / Verwaltung ► Staat / Verwaltung
	Wirtschaft ► Betriebswirtschaft / Management
	Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft
	Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie
	Wirtschaft ► Volkswirtschaftslehre ► Wirtschaftspolitik
ISBN-10	0-88132-104-4 / 0881321044
ISBN-13	978-0-88132-104-3 / 9780881321043
Zustand	Neuware