Mundell, Robert A. (contributor) - 2002 - [Elektronische Ressource]
fixed such that the Bank of Japan buys and sells yen at $1 = ¥100; the
ECB buys and sells euros at $1 = E1. They engage in … monetary effect of intervention should not be sterilized. For example, if the ECB were to
intervene to support the euro by … tightened. It would be self-defeating
for the ECB to imitate the atrocious practices of the Bank of England and Federal Reserve …