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Persistent link: https://www.econbiz.de/10015180391
This study presents indirect evidence of the effectiveness of sterilized interventions in Brazil based on the complete records of daily customer order flow data reported by Brazilian dealers, as well as foreign exchange intervention data over a time span of 10 years (2002 - 2011). We find that...
Persistent link: https://www.econbiz.de/10010193366
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We show that there is a distinct commodity-related driver of exchange rate movements, even at fairly high frequencies. Commodity prices predict exchange rate movements of eleven commodity-exporting countries in an in-sample panel setting for horizons up to two months. We also find evidence of...
Persistent link: https://www.econbiz.de/10013239257
This study presents indirect evidence of the effectiveness of sterilized interventions in Brazil based on the complete records of daily customer order flow data reported by Brazilian dealers as well as foreign exchange intervention data over a time span of 10 years (2002-2011). We find that the...
Persistent link: https://www.econbiz.de/10013106976
This study investigates the impact effect of monetary policy shocks on the exchange rates of Brazil, Mexico and Chile. We find that even a focus on 1 day exchange rate changes following policy events - which reduces the potential for reverse causality considerably - fails to lend support for the...
Persistent link: https://www.econbiz.de/10013108333
This study presents indirect evidence of the effectiveness of sterilized interventions in Brazil based on the complete records of daily customer order flow data reported by Brazilian dealers, as well as foreign exchange intervention data over a time span of 10 years (2002-2011). We find that the...
Persistent link: https://www.econbiz.de/10013059561
We use cointegration analysis to show that the long-run behaviour of the Brazilian real effective exchange rate betweeen January 1999 and September 2012 can largely be explained by the price variation of a basket of five commodities – that accounted for 51% of Brazilian export revenues in...
Persistent link: https://www.econbiz.de/10013063362