Intervention as information: a survey

Research has generally failed to find reliable connections between official exchange-market interventions and exchange rates that are consistent with either a monetary or a portfolio-balance theory of exchange-rate determination. Recently economists have suggested that intervention might sometimes influence exchange rates through its effects on agents’ expectations. This survey discusses newer research that analyzes informational aspects of intervention.

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Year of publication:	1999
Authors:	Baillie, Richard T. ; Humpage, Owen F. ; Osterberg, William P.
Institutions:	Federal Reserve Bank of Cleveland
Subject:	Foreign exchange \| Law and legislation

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Extent:	application/pdf
Series:	Working Paper.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 9918
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005526641