different forms of floating on the basis of a central bank's intervention activity: pure floating (no interventions … interventions and sterilization and we explain why a central bank has an interest of controlling simultaneously the exchange rate …Although there seems to be a broad consensus among economists that purely floating or completely fixed exchange rates …

different forms of floating on the basis of a central bank's intervention activity: pure floating (no interventions … interventions and sterilization and we explain why a central bank has an interest in controlling simultaneously the exchange rate …Although there seems to be a broad consensus among economists that purely floating or completely fixed exchange rates …

Although there seems to be a broad consensus among economists that purely floating or completely fixed exchange rates … corner solutions. Many of these intermediate regimes are characterized by significant foreign exchange market interventions … this area usually concentrates on some specific aspects of intermediate regimes (such as the effectiveness of interventions …

sterilization operations to absorb what we call 'surplus liquidity' from the domestic banking systems. This has brought the East … financial repression, or rising inflation or both. Assuming that a debtor central bank moved towards a freely floating exchange … rate to gain monetary policy independence, we show that monetary policy independence is undermined by sterilization costs …

sterilization operations to absorb what we call "surplus liquidity" from the domestic banking systems. This has brought the East … financial repression, or rising inflation or both. Assuming that a debtor central bank moved towards a freely floating exchange … rate to gain monetary policy independence, we show that monetary policy independence is undermined by sterilization costs …