This paper describes and analyzes automated intervention of a target zone. Unusually detailed information about the … order book allows studying intervention effects in a microstructure approach. We find in our sample that intervention … increases exchange rate volatility (and spread) for the next minutes but that intervention days show a lower degree of …

. Volatility decreases with openness tointernational trade and per capita GDP, and increases with inflation, particularlyunder a …

This paper investigates the effect of inflation volatility on private sector credit growth. The results indicate that … private sector credit growth is positively linked to the one period lagged inflation volatility. Given that past monetary … positive response of private sector credit growth to past inflation volatility suggests a credible monetary policy regime in …

Does the South African rand's relatively large volatility affect inflation? To shed some light on this question, a … standard estimation technique of exchange rate pass-through to inflation is extended to incorporate exchange rate volatility …. Estimated results suggest that higher exchange rate volatility tends to increase core inflation but to a relatively limited …

on the extent to which domestic inflation and interest rate surprises contribute to short-run volatility in G3 exchange … rates. We set out a simple model of the implications of different monetary regimes for the response of inflation, interest … rates, and exchange rates to inflation surprises. We then develop an operational measure of central bank transparency, and …

inflation volatility.Also, causality tests results indicate that changes in the exchangerate, output gap volatility, and output … gap will have permanent andtemporary causal effects on inflation volatility. The policymakersshould carefully consider … these results to implement appropriatepolicies to reduce inflation volatility. The finding that the shocks areof temporary …

bank intervention on exchange rates. Within a heterogeneous expectations exchange rate model intervention operations are … to daily US-dollar/DEM forward rates and intervention data of the Deutsche Bundesbank and the Federal Reserve from 1979 …

bank intervention on exchange rates. Within a heterogeneous expectations exchange rate model intervention operations are … to daily US-dollar/DEM forward rates and intervention data of the Deutsche Bundesbank and the Federal Reserve from 1979 …